Updated over 10 years ago on . Most recent reply
Converting a Primary home into a Rental.
So I've made to decision to convert my liability into an asset. I have read all the great info in regards to "renting your home" That being said, I saw nothing in the blogs regarding how to deal with this transition for tax purposes. For example, my county has an Owner Occupancy tax credit of 2.5% that I will lose once converted into a rental property. How do I go about informing them of this change? Thanks in advance.
Derrick