Live in NC. Have rented out other home in FL for years. Used expense and depreciation writeoffs. Tenant moved in April 2023. Up for rent. No tenants applied during 2023. Visited property to fix and improve . Do I have to claim personal use?

[DianeW777]

It depends.  The answer is 'No' as long as it was available for rent the entire year even if there were short periods of repair.  It would continue to be rental property all of 2023.  You would continue to file as you have with rental income and expenses attributable to the rental home.

If you converted it to personal use, then that would be different.  If that's the case please update for further details.

[PRGearup]

If then I visit this out of state property four tmes for a week or so each time to fix and improve and it is up for rent, then still not personal use?

[DianeW777]

Yes, that is correct.  Every rental property owner has repairs and some take longer than others.  This does not take it out of use or convert it to personal use.  As long as you are actively seeking a tenant and making the property available it remains and is treated as you normal would.

[PRGearup1]

Thank you for the info 🙂

Also, I have lived for 19 years in NC home. I decide to move into what was my rental in FL and claim residency in FL. So now my primary residence is in my FL home and the NC home is a second home. If I sell the NC home within 5 years, will I still get the full single capital gains exclusion ($250,000) on the NC home?