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use portion of home for business purposes. taken depreciation deuction since buying home 15 years ago.sells for $150,000, 5,000 is to depreciation.
use portion of home for business purposes. taken depreciation deuction since buying home 15 years ago.sells for $150,000, 5,000 is to depreciation. which is true?a. $5,000 of gain does not qualify for home sale exclusion.b. basis of new home is reduced by $5,000c. depreciation deductions do not affect exclusiond. depreciation deductions reduce the maximum exclusion amounti think it is C