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

How best to calculate mortgage interest and taxes for business use of home when the business is active for only 3 months and the balance of these deductions carries to Sched A?

Highlighted
Level 1
 
Labels (1)
0 Cheers
2 Replies 2
Highlighted
Level 12

As long as it meets the "dedicated space" requirements for a home office, you would use the info from the IRS:

https://www.irs.gov/publications/p587

Search on the word "seasonal."

 

*******************************
"Level Up" is a gaming function, not a real life function.
Highlighted
Level 8

Form 8829, Part II Allowable Deduction has a Smart worksheet for Line 8 to enter date began use of  home office and allocation of Sched C income.   That should help limit your deduction.