you do need to correct the depreciation on any business real property. even the home office is 39 years. only residential real property is 27.5 years. there is nothing wrong economically with taking a HO deduction. you get to deduct a portion of expenses otherwise not deductible. in addition, you get to reduce your adjusted gross income by a portion of your real estate taxes and interest. the rest goes to itemized. even if at that point the standard deduction is higher than itemized, it still can be better than not. your self-employment income goes down which reduces your self-employment tax. personally I prefer bonus depreciation rather than 179. bonus allows you to deduct 100% the cost of qualifying assets in the year placed into service just like 179 but is not limited to net business income like 179 is. 179 also becomes a pain to deal with if you dispose of the asset before it is fully depreciated. no such problem with bonus.
