Hello Friends,
I read this article regarding the home office deduction and am looking for guidance on how to claim it. I was employed for most of the year in 2024 but started my own business in mid November. How do I calculate the deduction available to me and on what form is it reported? I am using Home & Business edition of TurboTax to file my returns. Thanks for your help.
S.
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To enter your home office expense along with other common business expenses:
1. Open or continue your return.
2. Navigate to the Schedule C section:
3. Answer any questions about your business until you get to the Your self-employed work summary screen. Select Edit or Review next to your business.
4. You'll be asked to select the expenses you know you had. Select Home office. You can also select any other expense categories that apply to your business. Select Continue at the bottom of the screen when you're done.
5. On the Here's your [type of work] info screen, scroll down to the Expenses section, and select Start next to Home office.
6. Enter the info about your home office.
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