Join my Facebook group, Tax Strategies for Real Estate Investors, and become part of a community with 11,500+ high-level real estate investors

► Join here: ⁠https://www.facebook.com/groups/taxstrategyforinvestors⁠

In this episode, I break down everything you need to know about renting out your primary residence. From tax implications and the capital gains exclusion to insurance adjustments and cash-on-equity analyses, I cover the essential steps to make informed decisions. Whether you’re considering converting your home into a rental or selling it for a tax-free profit, this episode is packed with actionable advice to maximize your wealth-building potential.

Timestamps:

00:00:00 Intro: Renting out your primary residence

00:01:07 The 2-out-of-5-year rule for capital gains exclusion

00:02:48 Why selling for tax-free cash may be better than renting

00:03:30 Adjusting your insurance before renting out your home

00:04:19 Financing considerations before converting to a rental

00:05:22 Cash-on-equity analysis: Is renting worth it?

00:06:05 Depreciation recapture and cost basis considerations

00:07:03 Converting a rental into a primary residence: Tax strategies

00:08:48 Why tax-free is better than tax-deferred gains

00:09:32 Emotional attachment vs. investment perspective

Interested in working with me? Apply here:

► https://taxstrategy365.com/apply?el=podcast

Let's connect!

► Instagram: ⁠https://www.instagram.com/learnlikeacpa/⁠

► LinkedIn: ⁠https://www.linkedin.com/in/learnlikeacpa/⁠

► Twitter: ⁠https://x.com/LearnLikeaCPA⁠

► Facebook: ⁠https://www.facebook.com/learnlikeacpa⁠

► Tiktok: ⁠https://www.tiktok.com/@learnlikeacpa⁠

*None of this is meant to be specific investment advice, it's for entertainment purposes only.