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Business & farm
Wonderful news. However, since you moved back into a home that was a rental, keep track of the amount of depreciation taken and any unallowed passive losses for when you decide to sell the house. It will all come back into play and you still need to keep those records from when it was a rental.
Reference: Publication 551 (12/2022), Basis of Assets - IRS
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‎February 9, 2024
11:14 AM
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