@Anonymous wrote:
So the date the property reverts back to a primary residence is determined by the owner and not necessarily when the tenant moves out?
That is correct. If you move in to the property and/or do not make the property available for rent, then the property would be considered not available for rent. In either of those instances, you could not deduct typical rental expenses (e.g., repairs, utilities, et al).
@Anonymous wrote:
Also wouldn't it be more advantageous to add them to the basis of the property?
If the property is not available for rent, you cannot add repairs to the basis of the property; only improvements can be added to the basis once converted to personal use.
