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How do I enter depreciation for an improvement to my home office house that exceeds $2500 so cannot be deducted as an expense?
I have a qualifying home office. In 2016 we added a new roof and siding to the building, the cost of which exceeded $10,000. I have gone through the Home Office Expenses interview and have determined it is an improvement and not a repair. I cannot expense the cost because it exceeds both the de minimus small business harbor limit of $2500 and the 2% unadjustable basis/$10,000 requirements. Now I can't figure out how to add the amount of the improvement to the Form 8829 Asset Entry Worksheet or Schedule C. Please help.
Thank you.
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May 31, 2019
8:00 PM