monicac
Level 4
04-13-2022
05:48 PM
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If my client rents out a bedroom in his house does he have to depreciate it? The rest of the house are common areas.
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strongsilence
Level 11
04-13-2022
06:00 PM
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no
TaxGuyBill
Level 15
04-13-2022
06:11 PM
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Yes. Depreciation is not optional.
The depreciation will be based on the space that is exclusively rental (not the common areas).
sjrcpa
Level 15
04-13-2022
06:28 PM
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Is it really a rental?
Or does client's brother live there and chip in for household expenses?
The more I know the more I don’t know.