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Can I use both de minimus safe harbor for HO improvement and the square foot safe harbor in the same year?
If I choose the HO $5/sq ft safe harbor, am I unable to use the de minimus safe harbor for deducting my HO percentage of home improvements as expenses? If the de minimus safe harbor deduction is more than the $5/sq ft safe harbor, is it better to take it, eliminating depreciation recovery upon sale of home, and simply list the other HO deductions?
March 15, 2022
11:35 AM