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Get your taxes done using TurboTax
Thanks for your response.
Just to clarify, when I remove the business, I will verify that the home office is no longer being used for bus. purposes and TT will populate the correct questions I need to answer in order to remove the entire business?
I dont plan to sell the car, just resume personal use. But isn't my depreciation listed in all my past TT returns? I don't quite understand why I would need to keep track of depreciation going forward, since I will be using the car and home office for personal again and depreciation will not factor in again?
I am not using simplified method, I am claiming my expenses and home related itemized deductions, so this will all go away once I remove the home office?
March 5, 2024
8:01 PM