If you've purchased property to use in your business, you can deduct a portion of your costs by claiming a depreciation deduction and reporting it on IRS Form 4562.
Depreciation, which is an allowance for the wear and tear on business property, is considered a deductible expense related to the business use of your home. You calculate the depreciation of the part of your home used for business in Part III, then transfer the amount of all...
The IRS has no problem with you deducting mortgage interest, property tax, operating expenses, depreciation, and repairs made to a rental property. But if you're sprucing the place up or upgrading appliances and you deduct those expenses,you're double-dipping. The IRS considers those improvements...
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