Learning Center

Video Tips: Converting a Home to a Rental? Check Out These Tax Tips

When a homeowner decides to convert their main home into a rental property, it initiates a change in the property's income tax treatment. The basis for depreciation will be the lesser of the property’s fair market value (FMV) or the adjusted basis on the date of conversion. Converting the home from personal use may result in loss of the home sale exclusion when the home is sold.

Share this article...

Want tax & business tips and insights?

Sign up for our newsletter.

I confirm this is a service inquiry and not an advertising message or solicitation. By clicking “Submit”, I acknowledge and agree to the creation of an account and to the and .

Get In Touch With Brontide

At Brontide, we're committed to delivering timely and reliable solutions for your tax and assurance needs. Fill out the form below to reach out to us.

I confirm this is a service inquiry and not an advertising message or solicitation. By clicking “Submit”, I acknowledge and agree to the creation of an account and to the and .
I consent to receive SMS messages and agree with the

Social Media

Location

6701 Democracy Blvd, Suite 300
Bethesda, Maryland 20817

Maryland License Number: 41307