Depreciation Basis of Home Office
Lacerte : 2008Scenario- Business owner claims depreciation on home for business use of home for 4 years. Owner retires and closes business. In the following year, a new business is started using a home office in the same home. What would you use for depreciation basis of the home for the home office of the new business.
Would you use the original basis and continue with year 5 depreciation like the property had been idle?
