Depreciate home

[CraftyMom]

Last year was my first year filing daycare taxes. I did not depreciate my home because I was advised against it by my father in law who works for H&R Block, but he has never done daycare taxes.

Then I read your blog Tom where it said ALWAYS depreciate your home because you will pay the tax anyway, when and if the home is sold.

So can I depreciate it this year even though I did not do it last year?

[TomCopeland]

depreciate home

Last year was my first year filing daycare taxes. I did not depreciate my home because I was advised against it by my father in law who works for H&R Block, but he has never done daycare taxes.

Then I read your blog Tom where it said ALWAYS depreciate your home because you will pay the tax anyway, when and if the home is sold.

So can I depreciate it this year even though I did not do it last year?

You can depreciate your home in 2014 as year 2. You can always amend your tax return and get a refund on your 2013 taxes.

[CraftyMom]

Great! Thanks!