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Remodel Home Office Asset Depreciation

I recently did remodel of my home (Flooring, Kitchen etc.).  Let's say my cost is $50,000 and my Home office is 5% of my house.

 

I know I need to add it as an asset and choose 3. Real estate property | Qualified Improvement Property. 

 

However, is the Cost the entire cost of $50,000 or just the prorated cost (5%) or $2,500?

 

I assume I also select 'I used this item 100% of the time for this business."

 

Please confirm.

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1 Reply
Vanessa A
Expert Alumni

Remodel Home Office Asset Depreciation

Yes, the cost would be the prorated amount of 5% or $2,500, not the entire amount.

 

Yes, if your home office qualifies as a home office you would use it 100% of the time. 

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