- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
@KrisD15 @VolvoGirl thanks to both of you for your responses.
I went ahead and paid so I can look at the forms. Form 8829 line 8 has a value of -$16,272. But Schedule C line 29 has a value of $102,976.
Form 8829 line 8 reads "Enter the amount from Schedule C, line 29, plus any gain derived from the business use of your home, minus any loss from the trade or business not derived from the business use of your home." This might as well be written in Greek, but that's the IRS for you. In any case, I don't understand how Turbotax is getting from $102,976 to -$16,272. Would that imply a loss from the business not derived from the business use of my home in the amount of $119,248? I don't understand how Turbotax comes up with this number. Thanks in advance for your help!