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-   -   Schedule C home depreciation and effect on eventual sale of home in the future (https://www.askmehelpdesk.com/showthread.php?t=64264)

  • Feb 19, 2007, 12:08 PM
    alex1491
    Schedule C home depreciation and effect on eventual sale of home in the future
    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 ?
  • Feb 19, 2007, 06:35 PM
    AtlantaTaxExpert
    No, you do not HAVE to do the depreciation. That is unusual, but it is an option on Business Use of the Home.

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