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Deductions & credits
Yes you can. When you are in the Business section to enter the Schedule C Business, enter the home as an "asset", and enter the business-portion of the home (don't include any shared areas).
When entering that, you need to be sure to include the proper basis, taking into account the previous deprecation.
Was it changed directly from a rental to a Bed-and-Breakfast business?
When entering that, you need to be sure to include the proper basis, taking into account the previous deprecation.
Was it changed directly from a rental to a Bed-and-Breakfast business?
May 31, 2019
5:53 PM