Converting your Home into a Rental Property (or vice versa)? Did you Know there are Tax Consequences to Consider?
A change in use occurs when your property is changed from income producing to personal use (for example: moving into a property that you have previously used as a rental property) or when it is changed from personal use to income producing (for example: changing your principal residence to a rental property). In addition, the change in use can be for 100% of the property or just a portion of the property (for example: changing …
