Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. Lacerte | ProConnect | ProSeries
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. Lacerte | ProConnect | ProSeries
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- Industry Discussions
- :
- Practice Advice
- :
- Multi use home office - Still Eligible?
Multi use home office - Still Eligible?
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
hmosbergea
Level 3
04-10-2020
09:24 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
100 % home office used for: landlord business (rentals - Schedule E); Consulting business (Schedule C) and investing (not a business).
Question: Since Home Office not used 100 % for consulting - (60% time for consulting and 40% rentals and investing) is a prorated deduction still allowed for Consulting and zero for the other 2 activities?
This discussion has been locked.
No new contributions can be made. You may start a new discussion
here
1 Comment 1
BobKamman
Level 15
04-11-2020
12:12 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Investing is not a business. Since the office is not used exclusively for business, no deduction is allowed.
Some taxpayers get away with calling rentals a business, depending on the extent and nature of their activities. But that doesn't matter, here.
Tell him to stop investing. He's losing a fortune, anyway.
