Thanks Coleen, So say I bought at 320K and FMV was 230K at conversion. I have taken 41K of depreciation.Now if I sell at 280K net is it profit or loss ? ( basis...
That helped a lot. Now that I have assigned the property as rental for the entire 2016 I can see that the sheet 8852 is showing a loss carryover . I will be sen...
Thanks KerriP, This is a condo. No land associated.Please take a look at the following links and let me know if I can apply it in this case<a rel="nofollow" tar...