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Author: TMFPMarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121592  
Subject: Re: Rental to Personal Property Date: 2/24/2005 2:07 PM
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One positive implication will be that once you live in it as a personal residence for more than 2 years, you can sell it and get $250,000 in tax free capital gains. Wont that offset the higher depreciation recovery that Phil was talking about?

It certainly softens the blow. If the 2 year requirement is met at the time of sale, all the gain not attributable to depreciation is available for the principal residence exclusion.

Phil
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