409426
You'll need to sign in or create an account to connect with an expert.
To enter the home office deduction as a member of an LLC that receives a K-1, follow these instructions:
You will need to calculate your home office expense. We recommend using a worksheet from IRS Publication 587 Business Use of Your Home to figure out your home office expenses.
First, choose only one of these to fill out:
-The Worksheet to Figure the Deduction for Business Use of Your Home is useful for tracking all expenses related to your home office.
-The Simplified Method Worksheet calculates your home office expenses using the size of your home office and a fixed deduction of $5 per square foot when your home office is 300 square feet or less.
Once you've figured out the amount, you can enter it on this screen along with "Business Use of Home" in the description field.
To enter the home office deduction as a member of an LLC that receives a K-1, follow these instructions:
You will need to calculate your home office expense. We recommend using a worksheet from IRS Publication 587 Business Use of Your Home to figure out your home office expenses.
First, choose only one of these to fill out:
-The Worksheet to Figure the Deduction for Business Use of Your Home is useful for tracking all expenses related to your home office.
-The Simplified Method Worksheet calculates your home office expenses using the size of your home office and a fixed deduction of $5 per square foot when your home office is 300 square feet or less.
Once you've figured out the amount, you can enter it on this screen along with "Business Use of Home" in the description field.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
unclesamiamnot
New Member
maggie95andy
New Member
mms4063
Level 1
mjshort
Level 2
sswearin
New Member