I'm working on 2021 taxes (yes, I filed an extension)
I have two businesses (Technical Editor/DTP and Notary/Notary Signing Agent) and work from one home office. I'm good with the home office expenses that seem to be split between the two, but what about the Common Business Expenses? Health insurance? My thought is to include the cost only for one business. Same with the cell phone expense. My plan was to claim health insurance under the editing business and the cell phone expense under the notary business as it would be used mainly for the notary business (same with car expenses listed elsewhere in TT). The notary business had a severe loss as I was homeless after selling my house. While I've been a notary for several years, the NSA is new to 2021, and I had to purchase desktop and portable printers and scanners. I lived in a hotel until the end of the year and had no room to set up my printer and scanner and no room to work, even if I was able to do so. Now that I bought a house, I can work in that business. I don't think not being able to do the NSA business is relevant to where I put the cell phone and car expenses.
Thoughts?
Thanks. ~Stephanie
