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Sale of Home Previously Taken Home Office Deduction with Depreciation
In 2020 I sold my home which I previously had take a home office deduction for many years. Included in the home office deduction was depreciation expense. I have rolled my return forward to 2020 and have entered the sale of the home. Turbo Tax did ask me how much depreciation I previously took. But it didn't really do anything. It said you have a loss on the sale of your home, personal losses are not deductible - that makes sense. But don't I need to "recapture" depreciation expense from the years that I took a home office deduction? If so, where do I enter that in Turbo Tax. Also, what do I do about the home that is entered in the home office section. Do I just delete it?
‎December 28, 2020
9:27 PM