my client has a schedule C office in home carryforward of about 20,000 for a Schedule C.
he has profit this year on another Schedule C (for an unrelated business) that could use the carryforward.
The business that he generated the carryforward from is still active and not profitable
Is there anyway I can use the Schedule C carryforward...
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Schedule C - Office in Home Carryforward
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Home Office Depreciation-Should I Update Basis?
My client has a home office for which we have been taking depreciation since 2005. In 2013 they spent 25,000+ in a kitchen remodel. They do not use the HO to meet clients--it is purely for administrative use that qualifies it as their principal place of business.
So should the basis be increased by the cost of the improvements, or...