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Daycare and Taxes>Help w/Depreciating My Home
krosey5 07:19 AM 12-04-2012
We bought our home from my parents 3 years ago. We purchased the house for $30,000 less than what the house appraised for. We just started the daycare this year. Do we use the actual purchase price or the appraised price of the house?
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TomCopeland 12:23 PM 12-04-2012
Use the lower of these two numbers: the purchase price or the value of the home at the time you started using it for your business.
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Tags:depreciation, home depreciation
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