Question

If I pay $18,000 for new windows, what percentage can be deducted from my self employment, home office if 100% of my home is used?

Forum|Forum|5 years ago
April 19, 2021
2 replies
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I am an in home daycare provider, I deduct 100% of my home office on my taxes. We need to get new windows and I need to know how much could be wrote off? If it would lower my return or raise my return?

TurboTax Self Employed Online

A

AmeliesUncle

You would depreciate it over 39 years, using your Time/Space percentage.

Let's say your time Time/Space percentage is 30%. That would result in a deduction of only $138 per full year, increasing your refund by roughly $30-$60 per year.

DaveF1006

Just to elaborate on what AmeliesUncle just said, your time/space percentage is the amount of work you spend in your daycare business versus the time you use your home for personal stuff. If you spend 10 hours a day, five days a week doing day care and there are 168 hours in the week, your percentage will be 50/168 or 30%. For the year though, you may need to factor in holidays that may lower the percentage.

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