Originally Posted by Firefly:
So in the above example where they finish off their basement and use it for daycare, use section 179 but go out of business in 5 years, how much of that deduction would need to be repaid?
A home improvement is depreciated over 39 years. So, if she goes out of business in 5 years she will have to report as income the amount of 34 years of depreciation.