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Employee
August 3, 2020
Question

Using property for buisness

  • August 3, 2020
  • 1 reply
  • 0 views

I live on 1/2 acre in a mixed commercial area. I started using  1/2 my property with a 3700 sq ft shop for my side business. How would I deduct that portion. Plus I converted a bedroom into an office. My mortgage is 1156.62 a month. Bought iit Jan 2013 

    1 reply

    Carl11_2
    Employee
    August 3, 2020

    Just work it through the Business Income & Expenses (SCH C) section of the program and *pay* *attention* to the small print on each screen. If anything, that will allow you to formulate and ask more specific questions that will result in more useful information for you.