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Investors & landlords
Thanks Carl. I will convert the property to personal use as you suggest and do all the reporting on 2022 return.
However, my big question is can I avail of the Section 121 capital gains exclusion here, since I do pass the IRS criteria of occupancy and ownership of the house. That would be a huge savings in my tax bill for 2022 return.
‎September 25, 2022
8:46 AM