Should I depreciate my home? My accountant says I shouldn’t because if I do I’ll have to pay taxes when I sell my home.

Never listen to anyone who tells you not to depreciate your home. Home depreciation deductions can significantly reduce your taxes each year. When you sell your home you will have to pay taxes on the depreciation you claim over the years.But, if you don’t depreciate your home you will still pay the same amount in taxes. IRS rules clearly state that if you are entitled to depreciate your home (which you are) you will be taxed when you sell it, even if you didn’t claim the depreciation deductions. If you haven’t been depreciating your home, use IRS Form 3115 to recapture all previously unclaimed depreciation.