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Office in the Home for client who manages three rentals

Greta
Level 7

Is it deductible using the simple method? Rentals all bring a loss.

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TaxGuyBill
Level 15

First, I think the rentals must rise to the level of a "Trade or Business".

Second, no, any Home Office Deduction can't increase a loss.

Third, unlike the regular Home Office deduction, the Simplified Method can't be carried forward.

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TaxGuyBill
Level 15

First, I think the rentals must rise to the level of a "Trade or Business".

Second, no, any Home Office Deduction can't increase a loss.

Third, unlike the regular Home Office deduction, the Simplified Method can't be carried forward.

View solution in original post