Turbo Tax Home and Business did not guide me through the calculation for Special Depreciation of assets in my home office. Why? How can I take this advantage thru TT?

[Steve118]

A helpful person in the community noted that:  "any asset entered under home office (form 8829) has an automatic 39 year life and bonus is not allowed.  The home office is strictly meant for the home and any improvements.  For equipment used in home office, list under asset entry worksheet."  That makes sense but is the advice to eliminate the assets from the home office section of the program and add them manually at the asset entry worksheet?  I've never done anything manually in Turbo Tax so I'm a little out of my league.  Thanks for the help.

[VictoriaD75]

Yes. If the asset is used separately for the business, such as a computer, furniture, etc., then it should not be included as a part of the home office. It should be listed separately and depreciated apart for the structure. 

If the asset is directly related to the home, such as a new roof, then the cost should be added to the basis of the property and depreciated with the home. 

The Home Office Deduction

[Steve118]

Thanks Victoria!