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Deductions & credits
Thanks Dave, can one take the home office expense on the business that is not going to be closed and not take the home office expense on the other business that is going to be closed this year or next? or were you saying I have to take the home office expense for both businesses if I elect to take the home office expense?
If I enter the home office expense for either business my refund goes down because of low income for the year, I assume this is because self employment taxes go up? If possible would like to be able to carry the home office expense forward or I guess it's best to skip it for the year.
‎February 15, 2021
2:08 PM