Tax Court Green Lights Depreciation Deductions for Home Renovations

by Ken Berry | Sep 04, 2019   ()

Generally, a taxpayer may be able to claim deductions for the business use of a home if certain requirements are met. This might include “home office expenses” like repairs, insurance and depreciation. In a new case, Kho, TC Summary Opinion 2019-18, 8/5/19, the Tax Court approved depreciation deductions for the cost of major home renovations relating to a couple’s foster care business.
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Source: Accounting Web
Source: Accounting Web

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