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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I did the home office deduction for about 8 years and no audits. But when DD moved into the room, I knew there was no way I could deduct it anymore :)[/quote] Yeah, and when you sell your house, you have to pay the recapture tax on the depreciation, so I hope you kept good records.[/quote] please explain PP?[/quote] Oversimplified, but: Say you own your house for 10 years and claim a home office deduction. Say that home office deduction amounts to $10,000 over the 10 years. When you go to sell your home, you have to pay a 25% tax on the $10,000. It's not washed away by the capital gains exclusion, either. More: http://homebuying.about.com/od/marketfactstrends/qt/SelfEmpResSale.htm[/quote]
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