Carl
Level 15

Investors & landlords

Yes, you can use the simplified method. But do take note of all of the highlights (every one of them) of the simplified method at https://www.irs.gov/businesses/small-businesses-self-employed/simplified-option-for-home-office-dedu...

Basically, when you switch from the normal depreciation method, it's up to you to keep track of depreciation already taken using that method, as the program will not (and can not) track it for you. This will come into play in the year you move or dispose of the business.

One nice thing about the simplified method for a renter that does not own their home, is that there's no depreciation recapture to deal with provided you used the simplified method every year since opening the business/claiming the home office.