- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
your basis for depreciation of the rental would be original cost + the costs of improvements made before conversion or FMV on date of conversion whichever is lower. any subsequent improvements would also be depreciable.
when you sell your tax basis is your original cost + cost of all improvements less depreciation. as long as it was not converted back to a personal residence, any loss would be deductible
‎September 20, 2024
6:10 PM