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Deductions & credits
If the space that was remodeled is used exclusively and regularly for your business, you may include the cost as a separate asset for the Home Office Deduction.
If the entire basement was remodeled and a portion was for your Home Office, you will need to allocate the cost to the square footage of your home office. Then add the allocated cost as a separate asset for the home office deduction.
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‎June 6, 2019
5:12 AM