I run a couple of businesses out of my home. I am an independent contractor for an educational company and do work from my home office. I take the home office deduction.
My understanding is I cannot take more than one deduction for the business since I know the work I do for that company has to be exclusively the only work done in the office, correct? My other business is an online product sales.
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You can take one home office deduction for the educational company and another home office deduction for the product sales business. The exclusive use rule relates to using the office for business as well as personal purposes, that would invalidate your home office deduction. You are allowed to use it for multiple businesses as long as there is no personal use involved.
You can take one home office deduction for the educational company and another home office deduction for the product sales business. The exclusive use rule relates to using the office for business as well as personal purposes, that would invalidate your home office deduction. You are allowed to use it for multiple businesses as long as there is no personal use involved.
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