"Fisherman" <curt007[at]comcast.net> writes:

- quote -

The business expenses are the usual office expenses,
including depreciation and the condo assessment. Report the
sale on Form 4797.

Phil Marti
Topeka, KS

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My wife is a real estate agent. We purchased (with a
mortgage loan) a condo last year for her use as office space
for herself and her team of agents. After using the condo as
her office she now decides that she wants to sell the condo.
The condo is now under contract to be sold and we will
realize a gain from the sale.

For our 2003 tax return what are the options to deduct the
purchase and/or use of the condo on the business portion of
our return? Also, for this year how should the gain be
reported on the 2004 return?

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