First off, I am using the Turbo Tax Deluxe installed on my computer, NOT Turbo Tax online.
I have replaced carpeting in my home office with hardwood floors. Based on what I have read, this should be categorized as an improvement rather than as a repair (because it increases the value of the home office space). But I don't see where to enter an improvement for the Home Office. There is a dialog where you enter expenses that apply to the home office and it includes an option for Repairs and Maintenance, but no option for Improvements.
Separately, there is an area for entering Assets and Depreciation for the business, but that seem to focus on equipment or other items purchased for the business, as opposed to something that is related to the home office space itself. I enter things like office furniture in this area, but somehow flooring, which cannot be moved if I change my home office, doesn't seem to fit in this category. But is this the only place where I can enter that expense?
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@davidfox Yes this is the only place to enter the improvements. Capital Improvements to the home office would be added to the Depreciation schedule and claimed 100%
To qualify for the home office deduction you must have a legitimate business and use part of your home exclusively and regularly for the business. If you qualify for this deduction, you can deduct 100% of the cost of improvements you make just to your home office.
Use the links below for additional information.
@davidfox Yes this is the only place to enter the improvements. Capital Improvements to the home office would be added to the Depreciation schedule and claimed 100%
To qualify for the home office deduction you must have a legitimate business and use part of your home exclusively and regularly for the business. If you qualify for this deduction, you can deduct 100% of the cost of improvements you make just to your home office.
Use the links below for additional information.
Thanks for the answer
the solution is not useful as it lacks to answer the question!!
Home office expenses and improvements will be entered under your Schedule C business along with your other expenses. Navigate to Self Employment section under the Wages & Income menu on left panel in TurboTax Online.
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