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Level 1

How to record Home as asset for Home office depreciation expense

Schedule C business uses home office, has home office expense including depreciation of home.  How do you record the home as an asset?

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QuickBooks Team

How to record Home as asset for Home office depreciation expense

Hey there, @intheblackllc.

 

I hope you're enjoying the day so far. 

 

For the best advice, I recommend reaching out to your accountant to see the best course of action with recording home office depreciation expenses. 

 

In the meantime, you can always check out, Manage fixed assets using Fixed Asset Manager (FAM) to see if this tool in QuickBooks would be of use to you and your business. The Fixed Asset Manager is a tool within the product that computes depreciation of fixed assets based on the standards published by the IRS. 

 

Please let me know if there's anything else that I could assist you with. You can always reach out to the Community or me anytime you find you need a helping hand. Take care and have a nice day ahead! 

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Level 1

How to record Home as asset for Home office depreciation expense

Thanks but those suggestions don't answer my question.  My question is what would the journal entry be to enter the house as an asset, and do you enter the entire cost of the home for the asset??

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