bwa
Alumni
Alumni

Get your taxes done using TurboTax

Strictly based on the facts in your post, you cannot.  A home office deduction cannot exceed the net income from the activity.  If you have no net income, you have no home office deduction.  Also, there is no home office deduction for charitable contributions.

Do you receive your pro-rata share of the S-Corporation's profit or loss?  If so, is it a profit or a loss?


View solution in original post