topic How do I consider home depreciation in office expenses when technically my home "cost" went up because of a cash-out refinance we did? in Deductions & credits

How do I consider home depreciation in office expenses when technically my home "cost" went up because of a cash-out refinance we did?

cccbassman14 — Thu, 06 Jun 2019 15:44:40 GMT

So I should not update the "cost" part of the home to the...

cccbassman14 — Thu, 06 Jun 2019 15:44:41 GMT

So I should not update the "cost" part of the home to the new mortgage total figure?

Your cost basis for depreciation doesn't change just beca...

Critter — Thu, 06 Jun 2019 15:44:43 GMT

Your cost basis for depreciation doesn't change just because you took out a HELOC. What that will change is the mortgage interest expense.

You are allocating costs for the office based on sq ft ra...

Bees — Thu, 06 Jun 2019 15:44:46 GMT

You are allocating costs for the office based on sq ft ratio of office to the total home. The interest expense number will be different . Interesting point that the cash out portion should not be attributed to the house costs even though it is tax deductible. Moot point after 2017 .