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Deductions & credits
Thanks very much Carl, I really appreciate your insights.
Quick follow up....... I have 2 businesses (1099 consulting and management of rental property I own). I use the home office for both consulting and rental property management. Is it best to claim the home office, under the business for which home office is primarily used/majority of time, in my case the consulting? Or should home office deduction be split based on hours in each business (in my case average of 10 hrs per week in consulting and 4 hours property management)
‎July 28, 2022
12:39 PM