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Real Estate
Reply to "Putting Our House Up For Rent - What Should We Know?"
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[quote=Anonymous]14:55 has a lot of good advice. Also— in DC it doesn’t matter if you don’t want to renew a lease— a renter has the right to live in your unit indefinitely as long as they pay their rent and comply with the lease (unless you want to move back in and give sufficent advance notice). The IRS will collect 25% depreciation recapture tax whenever you sell your place (if you took depreciation deductions or not) so make sure you know current fair market value and are taking depreciation deductions. [/quote]
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