Hello -
I am a self employed musician, and I have a large, detached studio behind the house that I purchased earlier this year. I also rent out a bedroom in my house. I am struggling to divide up my depreciation deductions for this year - do I need to subtract the cost basis of my home office from the total value of my house before calculating depreciation on my rental room? Or do I just use both percentages on the total value of the home? I apologize if this doesn’t make total sense - juggling the deductions for the two separate spaces has been a struggle. Any advice is much appreciated! Thank you 🙂
