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March 28, 2023
Question

I am a renter, but moved from place to a bigger one - I had a home office in both places

  • March 28, 2023
  • 1 reply
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Occupied 1 place from 1/1/ 2022 the other from 6/1/2022 to present

1 reply

JohnB5677
March 28, 2023

Yes, TurboTax supports up to two different home offices per Schedule C business.

 

  1. When you get to the home office section in TurboTax, we'll ask if you had more than one home office during the tax year 
    1. (answer Yes) and 
  2. if these offices were in the same home 
    1. (answer No).
  3. Eventually, you'll be asked for each office's percentage of use (this'll be filled in if you're using the simplified method). This is the percentage (up to 100%) of business activities conducted from your home office multiplied by the percentage of time you spent living at each location
  4. Here are a few examples:
    1. Example 1: You conduct 100% of your business from your home office, and you lived 3 months (25%) in the first home and 9 months (75%) in the second home. You'd enter 25 and 75 for the first and second office, respectively.
    2. Example 2: You conduct 50% of your business from your home office, and you lived 3 months (25%) in the first home and 9 months (75%) in the second home. You'd enter 12.5 and 37.5 for the first and second office, respectively.
    3. Example 3: You conduct 80% of your business from your home office, and you lived 6 months (50%) in each home. You'd enter 40 for each office.

In the end, the two numbers you enter should add up to the percentage of business activities conducted from your home office, up to but not exceeding 100.

 

How do I allocate expenses for two home offices?  Select Two different home offices for the same business.

Reminder: When you're in TurboTax, and you're not sure of something, select the (?) next to the topic for more information.

If this does not completely answer your question, please contact us again and provide some additional details.

 


 

 

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