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View Full Version : Schedule C home depreciation and effect on eventual sale of home in the future


alex1491
Feb 19, 2007, 12:08 PM
I am debating if I should take depreciation on my personal home onto my federal schedule C.
Let me explain, My gut feeling tells me that when I eventually sell my personal home I will be forced to add back all the depreciation I have taken on my schedule C for all those past years as income for when I sell the personal house. To a lesser extent, I am concerned about those blasted potential audits by the IRS, which I rather not have.
I already allocate a portion of my real estate taxes, but do I have to do the depreciation ?

AtlantaTaxExpert
Feb 19, 2007, 06:35 PM
No, you do not HAVE to do the depreciation. That is unusual, but it is an option on Business Use of the Home.