Converting Personally Used Property Into Business Premises: Establish the Opening Basis
A decline in value before conversion cannot simply become a business depreciation deduction.
TOPIC COLLECTION
Property use changes
A focused reading path from Owner Occupied. Start with the question closest to your situation, then review the linked sources and documentation steps.
Paying a Tenant to Leave So Your Business Can Move In
A landlord-funded lease termination can require capitalization even when occupancy changes immediately.
Abandoning an Unusable Business Parcel: Walking Away Does Not Establish the Tax Loss
Intent, affirmative action, debt, and retained rights determine whether a loss event has occurred.