Tax Deductions for a Live in Flip
Hi all,
I am planning on purchasing a SFR with the intention of living in it for 2-3 years, making upgrades, and selling when I move out. Would this be considered an investment property where I can deduct depreciation expense from my personal taxes?
In general, what distinguishes a "primary residence" from an home purchased with the intent to flip? Is it the amount of time held?