Question

business and personal deductions

Forum|Forum|6 years ago
March 9, 2020
1 reply
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I am being asked for the same deduction for our business and personal ie total income, the home office dimensions, itemized expenses and equipment add to the company. why do I need to put all this information in twice and how will it effect my return

M

MinhT1

When you claim the home office deduction, you must calculate manually the portion of mortgage interest and property taxes attributable to your home office (based on square footage). You then claim that portion for your home office deduction.

The balance of mortgage interest and property taxes are claimed in the personal section under Deductions and Credits > Your home (if you itemize deductions).

If you enter the whole amounts in both sections, it is double dipping and is not allowed.

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