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Posted by Steve Pope on December 28, 2006, 12:26 am
Please log in for more thread options >>> If you don't claim to have a home office, there's no
>>> deduction or depreciation allowable. If you claim a home
>>> office and take deductions but not depreciation, you get hit
>>> for the allowable depreciation anyway.
>> Can you provide an example of what constitutes for this
>> purpose "claiming a home office", with no depreciation
>> taken?
> It means exactly what it says. Someone deducts the cost of a
> home office but doesn't include any deduction for rent or
> depreciation. Happens all the time.
Sure, my point here is that there's no line on Schedule C
called "home office deduction". If TP is a homeowner and
files a Sched C and does not include any depreciation for a
fraction of his home on the Sched C, then I *think* the TP's
position must be that whatever expenses are on his schedule
C have some justification other than a "home office" that
meets the regular/exclusive/priciple place of business
definition.
Similarly if TP is a renter and doesn't deduct a fraction
of their rent.
Steve
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