DianeW777
Expert Alumni

Deductions & credits

No.  Do not use the home office section of TurboTax for the depreciation of the office asset since you actually have a separate structure that is strictly for your home office. Instead add a new asset to your business schedule and use only the cost of that home office structure for the cost basis.  Do not include any land. Use the total square feet of the home, then divide the square fee of the office by the total for the home to arrive at the business use percentage.  

 

For the expenses that are not separated out by your home and the home office you will enter those in the home office section by using the same percentage you calculated above (insurance, mortgage interest, real estate tax, utilities as example).

 

@texaspaulster

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