Question

Help Understanding Form 4562 for home office

Forum|Forum|6 years ago
July 21, 2019
1 reply
0 views

Reviewing forms before filing, and I don't understand Form 4562 for home office.
Line 19i is showing entry for "non residential real property".
I do believe TT is taking this info from the questionnaire, but I don't understand what this form means and I want to make sure I didn't make a mistake? Does it sound correct that I would have this form for a self-employed home office?

TurboTax Self Employed Online

Critter

Employee

It is correct ... the part of your personal residence you use EXCLUSIVELY for business is depreciated like any other business building as a non residential real property since you do not live in the business portion of the home no more than you would live at any other office space you would rent.