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hi Clint came here with Anderson business advisors and in this segment Im going to discuss how to take your personal residence and turn it into a rental now you might be wondering why would I ever do that well there are people out there who are considering turning their personal residence into a rental property they dont want to sell it its in a location they think is going to continue to appreciate it can produce great rental income for them but the question is how do you do it do you just move out of your house and then start renting it out well you could do that but youre giving up a tremendous tax benefit if instead you chose to structure it in a slightly different manner I want to show you is how you can take your personal residence turn it into a rental by selling it to your own business and the tax benefits that come from that so lets look at this example right now lets say that I bought my house 15 years ago for $200,000 so this was my purchase price now today my persona
