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Date business started using home office

Hi,

 

I owned my home with someone for 20+ years. I started using a home office in 2020. I bought the home in my own name in 4/22. I am filing with regular home office deduction.

 

What do I put as the date that I started using my home office? Technically it was 2020, but ownership changed.

 

Does the start date impact taxes when I sell?

 

Thank you!

 

 

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1 Reply
DianeW777
Expert Alumni

Date business started using home office

No, the date will not impact the sale.  All depreciation used for your home office will be part of the equation when you sell your home.  You will continue to use your original date since you owned the home then and now. You can change the cost basis if you paid additional money to become 100% owner.

 

Keep all of your records for your future sale.

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