CALIFORNIA FAMILY LAW
...Income Tax Matters
......Community Property: Assets
.........Real Property/Family Residence
............Conversion to Income-Producing Prop.
3 Cards On This Topic:
  • Conversion of family residence into income-producing property.
  • Expenses associated with rental property are deductible, even though residence formerly used as taxpayer's home.
  • Placing residence on market immediately after abandoning it as residence is indicative of intent not to hold for production of income.