Tax Deduction Ideas for 2002

[nkhoi]

Originally posted by trdrmac
As always do what you want with your taxes, but if you use your home as a home and an office, and you sell the property, as far as I can see the sale is treated as two separate sales. One is the sale of the home, and the second is the sale of the office, where the depreciation is recaptured.

here is the thing, the part that get treat as office depreciation is 100% deduct against your income(form c or 104) and when it is recapture time, it is 100% deduction against your capital gain (form D), so if you have a loss, it is best time to sell your 'office'.