When a former principal residence is converted into a rentalproperty, the initial tax basis calculating any later loss on saleis:

A. the property's basis on the conversion date under the normalbasis determination rule:

b. Always the property's fair market value (FMV) on theconversion date.

c. The lesser of: (1) the property's basis on the conversiondate under the normal rule, or (2) the property's FMV on theconversion date

d. The property's insured value on the conversion date

c. the

basis on the