- Joined
- Aug 22, 2013
- Messages
- 59
I have a property that was used as primary residence initially then converted to rental property. My questions is how the capital gains/loss is calculated? Is it calculated from the time the property was first purchased or from the time it was converted to rental? I know when you convert a property to rental from personal residence, it’s considered one has sold the property and immediately reacquired it at fair market value. An expert response is appreciated.
Mark
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Mark
Sent from my iPhone using myREINspace