monicac
Level 4

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

no

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TaxGuyBill
Level 15

Yes.  Depreciation is not optional. 

The depreciation will be based on the space that is exclusively rental (not the common areas).

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sjrcpa
Level 15

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.