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Office in Home

gcole18
Level 1

I am putting information in the 8829 and I see line 19 that says rent, interest and taxes on home were put in, but can I also use the monthly payments they paid on the home?

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2 Comments 2
TaxGuyBill
Level 15

No.

The monthly payments are usually composed of interest, taxes and insurance, so that is already being accounted for.  As for the 'principal' of the loan, that is sort of being taken care of by depreciating the property.

gcole18
Level 1

Thanks, that's what figured, just needed verification.

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