I stopped using my home office for business on 3/06; I depreciated the home office portion of my house for about four years. I have not sold my home, but I am no longer self employed, so it looks like I must report the total depreciation of the home office space on Form 4797 as a Section 1250 gain and pay capital gains for the total depreciation (reported on Schedule D) for the 2006 tax year. If this is correct, I assume I use the date I stopped using the home office as the date sold (Form 4797 line 19) and I can leave the gross sales price (line 20) and cost/other basis/expenses of sale (line 21) both blank. I certainly appreciate any assistance I can get...thanks. Mark
- posted
17 years ago