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Mr Bean ❤️

Does A&M have Marriott and Hertz discount codes?
Hii everyone from IBM 👋🏻
Whats the process of initiating and getting the hike/bonus?
I joined IBM on last week of May 2022, was on bench till 20th November 2022 and got allocated to project on 21 November 2022.
Whom should I talk to regarding the hike/bonus? And whats the process like?? Will be grateful if I get any inputs. Thanks all :)
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Atlanta vs Savannah vs Tampa?
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Subject Expert
Basis of Property Changed to Rental Use
When you change property you held for personal use to rental use (for example, you rent your former home), the basis for depreciation will be the lesser of the fair market value or adjusted basis on the date of conversion.
https://www.taxact.com/support/13900/2020/depreciation-cost-basis-of-home-converted-from-residence-to-rental#:~:text=Basis%20of%20Property%20Changed%20to,on%20the%20date%20of%20conversion.
Subject Expert
You can’t.
Subject Expert
Sell within 3 years to keep the “2 in the last 5 years” homestead exemption.
Otherwise, you may be able to do a 1031 exchange, but that’s a tax deferral, not an exemption.
Not looking to sell for another property as it’s a very rentable location and don’t want to deal with realtor fees
What’s your goal with the house? Keep it as a rental until you pass or eventually sell it? Also are you just trying to get cash out?
I’m drawing a blank on how to unlock additional basis without spending money on the home. Most of my clients will do a cost segregation study to accelerate existing basis OR cash out refi and get another property to get additional basis.