In 2020, I:
- made $25K income in a sole proprietorship (software development)
- spent $20K building an external structure to use as a home office
- decided to close the business
- qualified to take the "Safe Harbor Election for Small Taxpayers" (I think)
Can I deduct the $20K home office improvement costs? If not, what is the proper way to handle them?
If I depreciate over 39 years, but then close the business the same year, do I need to do anything about the unclaimed depreciation?
