Moving into your rental

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Moving into your rental (by scott [OR]) Jun 8, 2012 6:42 AM

Moving into your rental (by Coplin [CA]) Jun 8, 2012 8:30 AM

Moving into your rental (by scott [OR]) Posted on: Jun 8, 2012 6:42 AM
Message:

If you have been depreciating your rental for 10 years, and then you move into the home and live there for more than two years, are there any negative tax consequenses? If you sell the home, is it just a home with no appreciation and taxes?

Thanks, I hope I was clear... (I doubt it.)

Scott --24.20.xxx.xx

Moving into your rental (by Coplin [CA]) Posted on: Jun 8, 2012 8:30 AM
Message:

Doing this means you just converted your rental property to your primary residence. As I remember the new law, designed to close exactly this loop hole, upon sale you DO have to recapture depreciation and the sale gain exclusion is the ratio to how many yrs it was a personal property vs how many years you owned it. Check with your tax guy for the details. --108.13.xxx.xxx

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Moving into your rental

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