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Updated about 7 years ago,
Tax Implications on my previous rental for only 6 months.
Hello Everyone,
So 6 months ago in June we moved into a new home and then in July we rented our old home in Parma, Ohio. We are going to see our tax advisor next month and I want to make sure I am informed. My questions are do I get to use any depreciation this year, and do I also get any tax benefits as well? My tax advisor had said something about thinking the rules were changing and I don't want to miss any tax benefits as I am a highly taxed commission sales person and am looking for any way to reduce my taxes. Thank you for your time reading this and any help you can give would be greatly appreciated.