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04-07-2017, 07:13 PM
 Junior Member Join Date: Apr 2017 Posts: 1
First time depreciation of home office

We have owned our home for 9 years. My wife has run a child daycare in our home for the entire time. I have never taken the deduction for depreciation of our home (form 8829). My understanding is that the depreciation rate is 2.564% per year. My question is, can I go back and take the depreciation for the previous years on this years return (2.564 x 8 = 20.512%) or can I only use the one year 2.564% as my depreciation rate?

04-07-2017, 08:56 PM
 Moderator Join Date: Oct 2010 Posts: 5,226
We have owned our home for 9 years. My wife has run a child daycare in our home for the entire time. I have never taken the deduction for depreciation of our home (form 8829). My understanding is that the depreciation rate is 2.564% per year. My question is, can I go back and take the depreciation for the previous years on this years return (2.564 x 8 = 20.512%) =>Sorry No you may file amended 8 previous returns to claim the prev 8 years? depre since you began to use the home as a child daycare center. Every family child care provider who owns a home should depreciate it and claim a substantial tax deduction.

or can I only use the one year 2.564% as my depreciation rate?======>Yes you can only claim 2.564% of annual depreciation expenses each year; you need to measure the square footage of your home and calculate the amount from this figure that is used exclusively for daycare to calculate the tax deductions for mortgage interest, property taxes, building insurance or rent deductions for your business. Also you need to measure the square footage of bathrooms used by staff and children, as well as the kitchen, if it was used for business food preparation. These areas may qualify for depreciation or tax deductions

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