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Deductions & credits
I’ve read every article out there, there is no blueprint for how to actually get the “meatiest” part of the home office deduction! No Sch. C income, no square footage deduction - period! The utmost expert in this area, GreenTrader, hints at a they’re advising clients but wisely didn’t provide the step by step guidance on HOW to move “some” income over to Sch C (enough to balance the expense). That might both reduce a red-flag (a Sch C with no income) and allow for the square footage deductions.
Sounds to me like the IRS never “fixed” this catch-22 and traders with TTS will have to live with this giant red-flag and be forced to make declarations of WHY it’s not really red. Why is that OUR JOB???? Do your job !!!!!!
April 12, 2021
7:27 PM