Multiple Choice
What are the tax consequences of converting a rental into a personal residence?
A) There are no consequences.
B) You may continue to deduct repairs but cannot continue to deduct depreciation.
C) If you sell the house, you must subtract accrued depreciation in calculating your gain.
D) You cannot deduct repairs but can continue deducting depreciation.
Correct Answer:
Verified
Correct Answer:
Verified
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