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For the home office credit, in Turbo Tax self-employed it does not allow me to enter the income from my K-1 statement. As a result, I can't get the credit. Suggestions?
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Do NOT be entering information in the Home Office section as a Sole Proprietor business.
For the K-1, are you a member of a Partnership? Or are you a shareholder of a S-corporation?
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IF the Partnership Agreement requires you to pay for those expenses, then you can deduct it in the section where you enter your K-1. There should be a check-box asking if you had expenses.
However, the program does not have a handy office form for that, so you will need to manually fill out Form 8829 to calculate what your office deduction will be.
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Very helpful, thank you. Although in Turbo Tax it indicates the correct form is IRS publication 587.
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Yes, the worksheet is on page 21 of Publication 587. But it is pretty much identical to Form 8829, so I think the 8829 is easier to use.