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If my client rents out a room in his house does he gave to depreciate it?

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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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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3 Comments 3

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).

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.