CALIFORNIA FAMILY LAW
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Income Tax Matters
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Community Property: Assets
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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.