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Level 1
posted Mar 7, 2021 4:00:24 PM

What amount do I enter in the Depreciation After May 6, 1997 field?

I see from a previous question that I have to enter all depreciation for the portion of the home I used as a home office every year it was claimed, but I'm struggling to find out what that number is for each year. I claimed home office exemptions from 2016 through 2019 and sold the home in 2020.

What field from previous filings should I look at to find out what was used as the depreciation amount for each of those years?

I thought it would be the "Depreciation allowable" amount from form 8829 on line 41 (shown in the image below), but I'm not certain this is correct

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1 Best answer
Expert Alumni
Mar 7, 2021 5:33:00 PM

Yes, as long as you were able to deduct that much each year and it was not carried over to a different year  due to limitations.

3 Replies
Expert Alumni
Mar 7, 2021 4:15:44 PM

If you used the Simplified Method to claim the home office, there was no depreciation taken and none to recapture. 

(Regular Method does report depreciation)

 

Look at Form 8829 from previous returns. 

Level 1
Mar 7, 2021 4:41:52 PM

I did not take the simple deduction. Does this mean I just need to add up the "Depreciation allowable" field (line 41 from my screenshot above) for each year to get my total depreciation?

Expert Alumni
Mar 7, 2021 5:33:00 PM

Yes, as long as you were able to deduct that much each year and it was not carried over to a different year  due to limitations.