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Investors & landlords
Yes, you could do a 1031 exchange if you are buying another rental property. However, I suspect the exchange costs would be MORE than the amount of tax you save, so that probably isn't a good idea.
No, rental time AFTER the last time you lived there is NOT "Nonqualifying Use". As Critter said, you will only pay tax on the depreciation.
No, rental time AFTER the last time you lived there is NOT "Nonqualifying Use". As Critter said, you will only pay tax on the depreciation.
‎June 7, 2019
5:42 PM