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Investors & landlords
@gigogol By converting it to personal use you lost the ability to deduct any rental expenses for the year of the sale. If it is still listed as a rental property your deductions are better. You will have to make the decision as to whether you had enough deductions on the property to justify going back and amending the 2020 return before doing the 2021 return.
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March 14, 2022
10:28 AM