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depreciating home office. do I put entire amounts of real estate taxes and mortgage in indirect expenses?

Level 1

TP lives in California. On their sch A they are only allowed to take $10,000 (of the $18,567 )deduction.

When depreciating their home office, I don't think I can put the entire amounts of real estate and mortgage as indirect expenses.

Can someone clarify this please?

Thank you

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4 Replies 4
Level 15

Hi there,

You’ve come to an Intuit site supporting tax professionals, and you may be looking for support as an individual taxpayer. Please visit the TurboTax Help site for support.

Cheers!

 


ex-AllStar
Level 1

Dear George,

I am a tax professional with a question.

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Level 15

If you enter the home office expenses on the 8829 the software should do the work. You didn't mention which software you are using.


ex-AllStar
Level 15

To understand this, use the IRS resources:

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

 

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