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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?
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.
Tags:depreciation, home depreciation
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