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Depreciation & Recapture
- Can I deduct as a business expense the entire acquisition cost of a computer that I purchased for my business or do I have to use depreciation?
- On what form and line do I deduct the standard mileage rate for my business travel, and do I also need to figure depreciation of the vehicle?
- I have a home office. Can I deduct expenses like mortgage, utilities, etc., but not deduct depreciation so that when I sell this house the basis won't be affected?
- We have incurred substantial repairs to our residential rental property: new roof shingles, gutters, windows, furnace, and outside paint. What are the IRS rules concerning depreciation?