02-28-2005, 06:57 PM
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 Re: Rental conversion to personal use "EdV" <ed...[at]earthlink.net> wrote: - quote - > Hi, I'm hoping you can help me with the following:
Not a disposition until it is sold.> I'm using TurboTax Deluxe. > In July 2004, I retired, moved my household and converted my > rental property to my retirement home. THe rental property > is now my main residence and my only property. My question > is whether this would be considered a "Complete Disposition" > situation (reference Schedule E worksheet, Question J)? > My guess is, it is not considered a complete disposition, > but my hope is that it is so I can recover all my prior year > passive losses. > THanks for any help or clarifications you can provide. -- David M. Woods, EA, ChFC, CLU Woods Financial Services Norwood, MA 02062 www.woods-financial.com << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
02-27-2005, 02:12 PM
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| Rental conversion to personal use Hi, I'm hoping you can help me with the following: I'm using TurboTax Deluxe. In July 2004, I retired, moved my household and converted my rental property to my retirement home. THe rental property is now my main residence and my only property. My question is whether this would be considered a "Complete Disposition" situation (reference Schedule E worksheet, Question J)? My guess is, it is not considered a complete disposition, but my hope is that it is so I can recover all my prior year passive losses. THanks for any help or clarifications you can provide. Ed Virden << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| conversion, personal, rental |
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