Possible tax deductions - Page 2 - GoFuckYourself.com

Amputate Your Head · 11-13-2002, 02:09 PM

Quote:

Originally posted by -=HUNGRYMAN=-
claiming a percentage of your residence as a home office is only suggestable if you A) Rent or B) have no plans to sell your home ...

If you claim a home office, when you go to sell your home, you are responsible to repay the amount you wrote off each year ...

more of a nuisance than anything ....

renters are the only exemptees to this

from every tax accountant I've ever spoken with, you cannot write off jack in terms of square footage or electric if you are a renter. You must own the home. So, I'm not sure where you're getting this from.... unless it's different in Canadia.

And why would you have to pay back your deduction if you sell your home and move? That's the most ridiculous thing I've ever heard. That's like writing off computer equipment, and then having to repay the deduction if you sell it next year.....

Amputate Your Head · 11-13-2002, 02:29 PM

My mother has been writing off half her house every year for decades..... so by your statement, should she decide to sell and move next summer, she'll have to pay back 30 years of tax deduction?

I don't think so.

11-13-2002, 02:29 PM	#52
Amputate Your Head There can be only one Industry Role: Join Date: Aug 2001 Location: Somewhere else Posts: 39,075	My mother has been writing off half her house every year for decades..... so by your statement, should she decide to sell and move next summer, she'll have to pay back 30 years of tax deduction? I don't think so. __________________ SIG TOO BIG