Basis on selling a converted-rental property I originally bought a condo for $200,000. When I recently converted it to a rental, the fmv was $100,000 and I plan to use $100,000 as the depreciation basis. If I sell the property a few years from now for $150,000, what is my basis for figuring out if I have a capital loss or gain? Thanks very much in advance for your response! |