Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

Office in Home dedution when the business already has a loss

Morton
Level 3

Form 1040 is taking a loss on Sch C for OIH.  I can't find anyway that this should be happening.  Can you help me how to correct this?

0 Cheers
1 Best Answer

Accepted Solutions
Morton
Level 3

I rechecked and I did enter the HOI expenses correctly thru indirect expenses.  Yes, the amount allowed on the 8829 is the result of a result of the mortgage and taxes.  

View solution in original post

0 Cheers
5 Comments 5
sjrcpa
Level 15

Is it attributable to the business use percent of mortgage interest and real estate tax?

And/or did you enter home office expenses as direct instead of indirect?


The more I know the more I don’t know.
Morton
Level 3

I rechecked and I did enter the HOI expenses correctly thru indirect expenses.  Yes, the amount allowed on the 8829 is the result of a result of the mortgage and taxes.  

0 Cheers
sjrcpa
Level 15

Then it is correct.


The more I know the more I don’t know.
Morton
Level 3

Grateful. I hadn't broken down the details to determine that the amount being claimed was just for the mtge int and real estates taxes until you brought the matter to my sttention.  Thanks very much.

sjrcpa
Level 15

You're welcome.


The more I know the more I don’t know.
0 Cheers