client has a property that’s he owned for 20 years and was rented for 8 years up until end of 2016. No end of rental claimed on schedule E at end of 2016 or 2017.
The property was not rented in 2017, the client remodeled the home and I believe this would be considered as personal use. He later sold the property in May 2017.
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Sale of rental property converted to personal in year of sale
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Sale of rental property converted to personal in year of sale
client has a property that’s he owned for 20 years and was rented for 8 years up until end of 2016. No end of rental claimed on schedule E at end of 2016 or 2017.
The property was not rented in 2017, the client remodeled the home and I believe this would be considered as personal use. He later sold the property in May 2017.
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sale of rental property converted to vacation property
A client has a property that’s he owned for 20 years and was rented for 8 years up until end of 2016. No end of rental claim before 2017.
The property was not rented in 2017, the client remodeled the home and I believe this would be considered as personnel use. He later sold the property in May 2017.
The mortgage and...