Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
General Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 11 months ago on . Most recent reply

User Stats

19
Posts
7
Votes
Ana Brasher
  • New to Real Estate
  • Houston
7
Votes |
19
Posts

Convert vacation home to rental property

Ana Brasher
  • New to Real Estate
  • Houston
Posted

We enjoyed our lake house for many years, but it has been very idle for the last 2 years.  We would like to convert to a rental home and qualify for a 1031 exchange and invest in a rental property in Colorado.  We know some people that are looking for rental (1-2 months) while they are finishing up their home re-modeling.  How do we demonstrate (for taxes) the rental of our home?  

  • Ana Brasher
  • Most Popular Reply

    User Stats

    1,773
    Posts
    2,659
    Votes
    Marc Winter
    • Real Estate Broker
    • Northeast PA
    2,659
    Votes |
    1,773
    Posts
    Marc Winter
    • Real Estate Broker
    • Northeast PA
    Replied
    Quote from @Ana Brasher:

    Yes, we will sell the lake house property in a few years.  We just want to convert it to a rental now so it can qualify for a 1031 exchange at that time.  How do we demonstrate that it is a rental property?  A listing on AirBnB?  Receipts from rentals?  Thanks!

    Tax returns should do that trick.

    Loading replies...