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josephpterranova
New Member

Can I adjust my home's basis-for home office depreciation-with improvements over time of ownership (15y)? I once tried but was told I must first amend previous returns.

Purchased older home in 2005, have more than doubled my purchase price over the years with renovations, but never increased my basis for home-office depreciation 8826 purposes--I was told I would need to go back and amend a decade  of returns in order to do so.
2 Replies
MaryK1101
Expert Alumni

Can I adjust my home's basis-for home office depreciation-with improvements over time of ownership (15y)? I once tried but was told I must first amend previous returns.

You cannot change the basis you have been using, but you can add any improvement as a separate asset to reflect the additional depreciation. 

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josephpterranova
New Member

Can I adjust my home's basis-for home office depreciation-with improvements over time of ownership (15y)? I once tried but was told I must first amend previous returns.

Right. (Sorry, Mary. After posting, I remembered looking that up last year, and the answer...duh)

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