Depreciating Home Office Space
I am trying to depreciate the home office portion of my home/condo. It is asking me for the land value and building value of the home and I have no idea where to find this information. Does anybody know?
Your property tax assessment should have this info.
It is not the current value you enter, it is the value at the time you purchased the property that you want. Apply the proportion of the assessed value of the land against the total assessed value to your original purchase price to determine the value of the land when you purchased the unit.