Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 8 years ago,
Consequences of moving into your rental after months/years
So, If I purchase a single family house (that I really like) and I rent it out for a few months (or years) then I move into it. How is that treated tax wise (IRS) and investment wise (I may put in an LLC). I obviously have business expenses when using it for a rental, but those expenses become homeowner expenses as soon as I move in. What other ramifications am I neglecting to think about. I'm not sure when I will relocate and take over the rental. Thanks in advanced.