Not the whole home office expenses, only for the profitable business. The home office expense for the second business that is not profitable is carried over in the next year. These are two separate businesses but the home office expense needs to be allocated between both.
If you did allocate the Home office Expense to one business and if you were routinely audited, there may be a lively discussion between you and the revenue agent regarding allocation of home Office expenses. For me, I try to stay clear from those discussions.
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