jeffery_dewlane
Level 1
12-06-2019
04:33 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
If using the standard method for deducting indirect home office expenses (ie. real estate taxes, mortgage interest, etc.) for the first year, in which it was used for business for only 2 months (because it was started in the last 2 months of the year) , can you write off all 12 months based on the business square footage?
Solved! Go to Solution.
Labels
abctax55
Level 15
12-06-2019
04:33 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Not if the office in home wasn't used for the entire twelve months.
You have to manually allocate.
"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"
( Generic Comment )"
