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Depriciation with home office in joint tenant property

I own a property as joint tenants with my sibling.
My sibling decided to have a home office on the property and meets all the requirements.
My sibling will solely use the home office and pay all the expenses associated with the home office.

Currently the property is a secondary residence. Now that the home office will exist, I understand depriciation needs to be taken. My question is, can my sibling take all he depriciation on his tax return, since the home office is his, and I have nothing to do with it? Or are we forced to both report depriciation on our tax returns?
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3 Replies
Carl
Level 15

Depriciation with home office in joint tenant property

Lets make sure I understand things correctly. I doubt I do, because I can pretty much tell that all necessary information is not included in your post.

-  You and your brother/sister own a house together.

 -The house is "NOT" rented out to a third party or anyone else for that matter. It just sits empty until one of you "occupies it" for something.

 That's all the real facts I have here. So here's what else needs to be known.

 - What is this home office for? A SCH C business your brother/sister owns? A SCH C business you own? A partnership or some other type of business both of you own together?

With more clarity, I can provide a more useful response.

Depriciation with home office in joint tenant property

Hello. Thank you for your interest in my question.
Yes, the house is owned by myself and my brother and it functions as a vacation house. The house is not being rented.

The home office will be for the exclusive use of my brother for his business, which he owns. His business is a sole proprietorship (sch C). I am not involved in the business and will not use the home office.
Bees
Level 7

Depriciation with home office in joint tenant property

If he does it at all tell him to look into the simplified method  of claiming a home office. That does not accumulate depreciation. 

https://www.irs.gov/businesses/small-businesses-self-employed/simplified-option-for-home-office-dedu...

 The real problem is if he has more then one office location he needs to prove that he does substantial work for the business from each location.  Just in a random search I found this article  http://www.cegworldwide.com/resources/expert-team/069-ei-deepa-venkatraghvan-vaction-home-office-ded...

Disclaimer: Not a tax professional. Information gathered from internet links. Anything dated in June 2019 was posted in prior years and is before the 2019 limits and changes.
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