You'll need to sign in or create an account to connect with an expert.
Yes, it matters!
The cost of your home is being requested in order to set up the home as a depreciable asset, so that the home office percentage of depreciation can be included in your expenses each year.
Refinancing is not part of this calculation. The value of an asset for depreciation is not based on appraisals, but arms-length transactions that established value. The cost of your home is what you paid for it, plus any adjustments to basis since your original purchase date, such as a new roof, upgraded HVAC system, etc.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
77aa3cb72278
New Member
ara1942
New Member
1a4b58b75088
New Member
K1306
New Member
lpn229
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.