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Investors & landlords
Maybe I am misunderstanding what value should be used in the business use percentage field when calculating the sale's gain. During the entire time I've owned the property, it has never been converted to or from a personal use property. It's been a 100% rental, but since its a vacation property that isn't rented during the offseason, we've had some personal days of use, mostly less than 14, a few years more.
Since the property has never been a personal use property, should I simply be using 100% as the business use percentage. In looking at the forms that get generated when 100% is used, the values for the basis, the depreciation and the gain amounts are what I expect.
‎August 10, 2020
12:26 PM