Tax implications of Converting Your Home Into Rental Property

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Converting your home into rental property could be the right approach given you could have income from your newly converted rental property and purchase another home in this down market with help from the rent. However, there are relatively some complex tax issues of which you should be aware.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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