Expert, localized Los Angeles answers provided by Heather Roy

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Selling a Rental

  I have a rental property that I am thinking about selling. I also have a property that I live in. I would like to know if I were to sell the rental and pay off the property I live in with that money and call the property a rental. The reson is that I need to fix up the property that I live in and would like to have it as a tax deduction.
 
  It's not clear what you're proposing but I'm pretty sure it wouldn't work anyhow.
    Edith
Originally published on September 8, 2007
 
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