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Investors & landlords
Please advise, are there any tax consequences with converting property back to personal use?
Do I just dispose an asset for personal use and because this not a sale there is no depreciation recapture or passive loss deduction until I sell the house, right?
I am planning renting the house again next year.
Do I start the depression over? Or should I continue depreciation and put prior year depreciation amount?
March 14, 2023
5:15 PM