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Ask Millionacres: Converting a Rental Condo to a Primary Residence


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

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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.

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