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January 25, 2024
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Home office deduction: Asset depreciation

  • January 25, 2024
  • 1 reply
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Hi,

My wife has a home office for her LLC. We replaced our roof in November 2023. I understand this has to be listed as an asset.


My question is about the cost of the replacement. We paid about half of the cost before the replacement in 2023 and will be paying the rest now in 2024. In the "cost of improvement" field, should I list the total cost or just the part I paid in 2023?

 

Thanks!

    Best answer by Mike9241

    Total cost. 

    1 reply

    Mike9241Answer
    January 25, 2024

    Total cost. 

    cawkvAuthor
    January 28, 2024

    Thank you!