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Level 3
March 14, 2020
Question

Recapture Home Office Depreciation

  • March 14, 2020
  • 7 replies
  • 19 views

My client has claimed a home office for a couple of years on the Schedule C, for 2019 the business has closed.  How do I recapture the depreciation we have taken over the years?

Using the 8829 Asset entry worksheet I go to the "Disposition" section and enter the date the business ended.  The programming is entering the amount we claimed as depreciation on the "Personal Residence" line but I don't see anything carrying over to the Schedule D or 4797?

Can someone assist in what I'm missing to get the recapture to appear?

 

Thanks

 

GC

 

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7 replies

Level 6
March 14, 2020

Did they sell the home?

 

Garcost48Author
Level 3
March 14, 2020

No, no sale

Camp1040
Level 10
March 14, 2020

You will recapture the depreciation when the house is sold.

Ya gotta look this stuff up.

Garcost48Author
Level 3
March 14, 2020

Understand.  Thank you.