- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
You should indicate that you stopped you using the previous home office, and start a new home office. The amount of space used for the home office is linked to the prior year depreciation amounts, and therefore the accumulated depreciation. You need to make sure that your depreciation records are correct so that if/when you dispose of the property, you can properly calculate determine your basis, calculate your gain or loss, and any depreciation recapture tax owed. Retire the old home office by editing it, and indicating that in the interview. Then start a new home office.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎February 23, 2023
7:16 PM
252 Views