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M
michele
Level 6
May 12, 2021
Question

office in the home depreciation home sold

  • May 12, 2021
  • 1 reply
  • 16 views

They sold their home and were using office in the home depreciation. Do you have to show the sale 

in percentages in order for it to calculate correctly.

 

thanks

Michele

This topic has been closed for replies.

1 reply

sjrcpa
sjrcpa
Level 15
May 12, 2021

No. Treat as home sale. Enter the depreciation claimed. Gain to the extent of depreciation will be taxed.

The more I know the more I don’t know.
    BobKamman
    BobKamman
    Level 15
    May 12, 2021

    I'm too lazy to look this up.  Just wondering, if you use the optional method of $5 a square foot, do you have to recapture depreciation?  

      sjrcpa
      sjrcpa
      Level 15
      May 12, 2021

      No.

       

      The more I know the more I don’t know.
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