Aircraft tax question
"George Patterson" wrote:
Was the house used solely as a personal residence?
Yes. The only thing I can think of is that we had
moved the year before. I had some renovation work
to complete on the old place, so I didn't sell it for
about 9 months. No one was living there, so, when
the tax package asked if it was our primary residence,
I answered "no."
You probably forced the software to consider it investment property,
which it wasn't. We can in provable circumstances hang onto a former
home as investment property, but 9 months of just fixing up for sale
won't make it such property in IRS eyes, no way.
Fred F.
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