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Question About Single Member LLC With Two Home Offices
I'd like to understand how TurboTax handles multiple home office deductions with a single LLC. I entered the full year home expenses for two home offices separately with slightly different square footages for each office. The program asked me to estimate my percentage use of each office. I entered 60% and 40%. To calculate my allowed combined home office deduction for my federal return does it work like this? Home Office 1 size/Home 1 size x Home 1 Expenses x .6 plus Home Office 2 size/Home 2 size x Home 2 Expenses x .4 = Total Deduction?
Thanks!
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‎April 11, 2024
10:43 AM