TaxMamas TaxQuips: Tax Quips
Converting to Rental
April 12, 2012
Today TaxMama® hears from Connie in the TaxQuips Forum with this question “What is the cost basis that should be used for property that had a HUD cost of $63,000 back in 1997 when the current owner acquired it? It was recently (2011) converted to a ren
Los Angeles, CA
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