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What are the tax implications of converting a rental property to 100 percent personal use (not primary residence)?

 
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What are the tax implications of converting a rental property to 100 percent personal use (not primary residence)?

Step 1 ... in the asset section of the Sch E remove the all the assets from service by converting them to personal use to stop the depreciation.

 

Step 2 ... nothing more is reported on the Sch E going forward on the tax return.

 

Step 3 ... if you eventually sell the second home you must recapture the depreciation taken (or should have been taken) while it had been a rental.   Other than that there is no real tax implications on this conversion. 

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