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Deductions & credits
Would you be better off with the simplified method? I believe it is a flat $5 per square foot, and you don’t deal with depreciation or depreciation recapture (because you have to pay income tax on all the depreciation you previously took when you sell the house).
https://www.irs.gov/businesses/small-businesses-self-employed/simplified-option-for-home-office-dedu...
April 15, 2021
6:25 AM