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Deductions & credits
This is a case of "cutting off your nose to spite your face" ... in other words to get a few $$ of home office deduction you have to convert a passive activity reported on a Sch E to a business reported on a Sch C and then pay SE taxes on the profits on top of the federal & state. If the rentals are already running at an overall loss then the home office deduction is useless.
‎December 10, 2019
9:14 AM
1,416 Views