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
No. Treat as home sale. Enter the depreciation claimed. Gain to the extent of depreciation will be taxed.
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?
No.
Thank you!
In case I come across it some time in the future, do you have a source for that?
😉
