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Deductions & credits
For the home office deduction, you should be asked to identify if an improvement is specific to the office or for the whole house. If it is a whole house improvement (which this is) then you depreciate a percentage of the cost equal to the percentage of the home office. The rest of the cost adds to the general cost basis of the house, and you should keep track because that will reduce your capital gains whenever you sell the house.
‎October 14, 2024
1:11 PM
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