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How do I indicate conversion of a rental property to primary residence, if I purchased the property, rented it, and converted it in the same year?
I purchased a rental property in March 2021 and continued to rent it to the existing tenant. In December 2021 the tenant left and I moved into the house as my primary residence. I have two questions:
1) Should I take depreciation on the house?
2) Where do I indicate the date on which the home became my primary residence in TT?
Here is the timeline:
• Date acquired
1) Should I take depreciation on the house?
2) Where do I indicate the date on which the home became my primary residence in TT?
Here is the timeline:
• Date acquired
Topics:
February 28, 2022
8:44 PM