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Deductions & credits
If this is for non-business property, such as one's primary residence, 2nd home or vacation home, it does absolutely nothing to one's taxes until the year 1 of three things happens in the owner's life.
1- They convert the property to business use (such as a rental)
2- They sell the property
3 - They die.
‎January 15, 2022
11:50 AM
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