Mom and I bought a house together 20 years ago, but only put it in her name. In Nov. 2019, she added me to the deed (but not the mortgage) as I've been paying all of our bills and taking care of her.
For 30 years I've owned a self-employed home-based business. TurboTax is now saying I need to depreciate my home business. Mom still lives here and I pay for everything for her. Is the value half of what we originally paid in 2004 since she still owns it also, or half of the 2019 value (since that is when I was added), or all of value or none of it since she is still alive? (And I didn't know about depreciation so I didn't do depreciation in 2020 AND got divorced (fun times, she says sarcastically). (I really did hunt for the answer, but I couldn't find anywhere with the person still living there. Thank you for any help.)
