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Level 2
October 10, 2023
Question

Is Turbotax allocating expenses in home office deductions based on the number of months used for each business?

  • October 10, 2023
  • 2 replies
  • 24 views

I had a business that closed 4/30 and a second that started 5/1. I use the same home office for both businesses. Do I use total expenses for both home offices and Turbotax allocates by the months used? or some other way?  Thank you

2 replies

Level 15
October 10, 2023

It almost certainly is dependent upon data input.

elle23Author
Level 2
October 13, 2023

Your answer was unhelpful.

 

Turbotax asks how many months did you use the business. I asked If Turbotax allocates expenses in home office deductions based on the number of months used for each business. The answer would not be dependent on the entry. Does TurboTax allocate the expenses based on the months used?