Discussion:Selling converted rental condo at a loss
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Discussion Forum Index --> Basic Tax Questions --> Selling converted rental condo at a loss
Discussion Forum Index --> Tax Questions --> Selling converted rental condo at a loss
| April 13, 2008 | |
| Client bought a condo in Georgia in 2001, and lived in it until she moved to California in 2006. The condo was converted to a rental property and rented from mid-2006 through mid-2007, when it was sold at a loss.
Is there any problem claiming the loss given that it was only a rental property for a year while it was a personal residence for about five years? | |
PaperworkCPA (talk|edits) said: | 13 April 2008 |
| Sec. 280A
Does the qualified rental section in 280A(d)(4)B(ii) help establish the rental? What was the character or the rental? Up for sale with a real estate agent from the time they moved to California? That would see to be a temporary rental until the propery was sold. Courts have debated this issue. | |
| April 13, 2008 | |
| if it were on the market for sale from the time they moved to CA would that preclude claiming a loss? | |
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