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Level 4
December 26, 2022

Client claims daycare business.

  • December 26, 2022
  • 1 reply
  • 12 views

Client claims daycare business and deducts in home expenses.  Has turned the garage into a play center can she claim the garage by depreciating the value of the garage? If not, how would she claim the play center.

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    1 reply

    Intuit Community Champion
    December 26, 2022

    Add the square footage of garage to area used exclusively for daycare. see pub 587

    sjrcpa
    Level 15
    December 26, 2022

    And you depreciate the cost of the garage, not the value (unless the value is less than cost on the day it became used for business.)

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