removeps-groups[at]yahoo.com wrote:
- quote -

When you take a business-use asset out of service (including an allowed
percentage of a personal-use asset), you stop depreciating it. But
you keep track of it until you dispose of it, and then report any tax
effects of the disposition.

-Mark Bole

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On Jan 22, 1:49 pm, "Paul Thomas, CPA" <paulthomascp...[at]bellsouth.netwrote:
- quote -

If you use the house for home office and living for 3 years, then
continue to live in it for 5 years but no home office in these 5
years, then you'll have to only deal with 3 years of depreciation,
right?

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"SMF" <smfwdf[at]comcast.net> wrote
- quote -




Obviously it'll depend on tax laws in effect at that time - which is
anyone's guess what that'll be.


Currently the depreciation reduces your basis in the home and there would be
some amount of gain (if there is any gain at all) attributable to the office
portion of the structure. This is true - under current law - for as many
years after the business use ends that you sell the house. Exceptions apply
for pre 97 depreciation though. See Publication 523 or 530.






--
Paul A. Thomas, CPA
Watkinsville, Georgia

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Office in home converted back to non office - what happens to
depreciation when you sell the house many years after you stop using
it as an office?

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >