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ike
New Member

Changed my sole proprietorship to an LLC with virtual office address in another state. I store inventory not ready for sale in my home. Can I claim home office deduct?

LLC is disregarded entity not a Corp.
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MichaelDC
New Member

Changed my sole proprietorship to an LLC with virtual office address in another state. I store inventory not ready for sale in my home. Can I claim home office deduct?

Yes. You can claim the home office deduction as long as a defined storage space is used exclusively for business-related items, you may include this space under the Home Office Deduction. Click on the "Learn More" and other blue links during the interview for more information.

For federal income tax purposes, a single member LLC is a disregarded entity.  As such, nothing really changed for federal income tax purposes.  Both will be reported on a Schedule C.

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1 Reply
MichaelDC
New Member

Changed my sole proprietorship to an LLC with virtual office address in another state. I store inventory not ready for sale in my home. Can I claim home office deduct?

Yes. You can claim the home office deduction as long as a defined storage space is used exclusively for business-related items, you may include this space under the Home Office Deduction. Click on the "Learn More" and other blue links during the interview for more information.

For federal income tax purposes, a single member LLC is a disregarded entity.  As such, nothing really changed for federal income tax purposes.  Both will be reported on a Schedule C.

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