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Deductions & credits
No, for a couple of reasons.
Form 8829 is the form used to claim home office expenses. It is associated with Schedule C and normally uses Schedule C income to justify that you can claim home office expenses.
Work as an active trader does not report any income on Schedule C, so Form 8829 cannot use that income to justify the home office deduction. Entering the net gain from trading on Form 8829 line 8C2 is only used to show that there is income from the use of the home office so the deduction is allowed.
It is not being added to your income a second time. It is simply moving a number from one form to another to justify the home office expense.
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March 14, 2023
5:48 AM