MarlaE
Level 1
07-04-2020
04:28 PM
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TP lives in California. On their sch A they are only allowed to take $10,000 (of the $18,567 )deduction.
When depreciating their home office, I don't think I can put the entire amounts of real estate and mortgage as indirect expenses.
Can someone clarify this please?
Thank you
George4Tacks
Level 15
07-04-2020
04:51 PM
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Hi there,
You’ve come to an Intuit site supporting tax professionals, and you may be looking for support as an individual taxpayer. Please visit the TurboTax Help site for support.
Cheers!
Answers are easy. Questions are hard!
MarlaE
Level 1
07-05-2020
03:19 AM
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Dear George,
I am a tax professional with a question.
sjrcpa
Level 15
07-05-2020
07:56 AM
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If you enter the home office expenses on the 8829 the software should do the work. You didn't mention which software you are using.
The more I know the more I don’t know.
qbteachmt
Level 15
07-05-2020
10:21 AM
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To understand this, use the IRS resources:
https://www.irs.gov/publications/p587
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