Margaret CPA in OH Posted March 31, 2009 Report Share Posted March 31, 2009 Client has home office deduction and depreciation on 8829. Several improvements that affect the basis (new furnace and a/c) apply to home office. How is that added? Just increase the depreciable basis on the 8829? I don't immediately see how it would flow in Asset Entry as Home Office or 8829 is not one of the options for the asset to be applied. Thanks! Quote Link to comment Share on other sites More sharing options...
grandmabee Posted March 31, 2009 Report Share Posted March 31, 2009 bottom of form 8829 there is tab for improvements Quote Link to comment Share on other sites More sharing options...
Margaret CPA in OH Posted March 31, 2009 Author Report Share Posted March 31, 2009 Thanks so much! I learn at least 3 or 4 really neat things about this program every year; this is #2 for this year. I hope I know it all by the time they either discontinue it or I retire! Quote Link to comment Share on other sites More sharing options...
MontanaEA Posted April 1, 2009 Report Share Posted April 1, 2009 Also, there's a code on the asset entry for the 4562 for office in home. If you add it there, you have the advantage of having the 4562 in the return for the year new assets were added ( which is proper), and it carries it automatically to the 8829. IMO a better solution than using the improvement tab on the 8829. Quote Link to comment Share on other sites More sharing options...
Margaret CPA in OH Posted April 1, 2009 Author Report Share Posted April 1, 2009 Thanks for the advice. I went back to line 41 and, sure enough, it says right there everything you said. I like this way better! Quote Link to comment Share on other sites More sharing options...
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