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Deductions & credits
One more question on Previous Depreciation:
There were 2 years - 2003 & 2004 where my husband has a business and we divided the space sqft in half and he claimed half on his schedule C and I the other half on my schedule C. I am adding his in also and coming up with the Total Depreciation taken over the years for our home and will use that total number in the "prior depreciation" area of the home. So it will not just be for my business but the system then can keep track of the full total amount that I would need if we ever sell the home.
Is that correct?
March 27, 2023
4:53 PM