Advertiser Disclosure

advertising disclaimer
Skip to main content
ask millionacres

Ask Millionacres: Converting a Rental Condo to a Primary Residence

[Updated: May 20, 2021 ] Oct 12, 2020 by Matt Frankel, CFP

Get our 43-Page Guide to Real Estate Investing Today!

Real estate has long been the go-to investment for those looking to build long-term wealth for generations. Let us help you navigate this asset class by signing up for our comprehensive real estate investing guide.

If you convert a rental condo to a primary home, when do you pay the recaptured depreciation taxes? At the time of conversion or when you eventually sell it? How about if you don’t sell it and it is inherited by the children? -- Pushpa R.

Got $1,000? The 10 Top Investments We’d Make Right Now

Our team of analysts agrees. These 10 real estate plays are the best ways to invest in real estate right now. By signing up to be a member of Real Estate Winners, you’ll get access to our 10 best ideas and new investment ideas every month. Find out how you can get started with Real Estate Winners by clicking here.