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I have rented my townhome for 9 years, I plan to stop renting it in July and let my son move in. What do I need to report tax for 2020 or I can wait until I sell my townhome maybe 10 years later? Please advise!
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When you do your tax return next year, you need to indicate that you converted the property from rental to personal use.
When you do your tax return next year, you need to indicate that you converted the property from rental to personal use.
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