qbteachmt
Level 15
11-18-2020
12:26 PM
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Yes, I know this is called "tax practice" because of differing views; everyone is Practicing, and no one gets it perfectly.
Depreciation as a deduction but not a reimbursement as Actual Expense, is the explanation and position taken in this article:
https://wcginc.com/blog/home-office-depreciation/
This article explains using the Simplified Method:
At the bottom part of the Home Office blog, where the value of depreciation is reviewed with an example, they come up with $500 that would relate to the 150 sf office space, under Actuals + depreciation to be recaptured later. Under the Simplified Method, you have $750 that does not provide for depreciation or carry forward.
Pick your poison.
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"Level Up" is a gaming function, not a real life function.
"Level Up" is a gaming function, not a real life function.