Question

Have home office deduction. The appraised value of home has increased since began the home office use. How do we enter increased appraised value?

Forum|Forum|6 years ago
February 22, 2020
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TurboTax Self Employed Online

The market value increase will not result in any increased deduction and does not get input into TurboTax. Any depreciation related to a home office is based on the COST BASIS of the property.

Accordingly, the increased market value will only come into play once you sell the property where any increase in value over the cost basis will result in gain.