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Investors & landlords
Once converted one way or the other, if you did not live in the property before or after the conversion those days don't count as personal use. My screenshot only showed if you converted to a rental ... but if it was converted to personal the screen would show the same warning in reverse.
Now if you rent it for some of the year and use it for some part like a vacation property then the personal use days do restrict the deductions.
Read the IRS Pub 527 to be educated about rentals.
‎April 12, 2021
6:43 PM