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Deductions & credits
Yes, if your business is showing a net profit, some portion of your home office expenses should be allowed. Review your entries to see if the percentage of use is reported correctly and not reported as zero. Here is how to check.
If you are entering these in TurboTax Online
- Go to the section where you entered the Home Office expenses.
- Look for a screen titled "Business conducted in home office" or "Percentage of time spent in office."
- Ensure you have entered 100% (or your actual percentage). If this is blank, TurboTax defaults to zero income for that office.
- If this is unsuccessful, go to Tax Tools > Tools > Delete a form. Delete Form 8829 and the Home Office Asset Worksheet if it appears.
- Redo the section again in Turbo Tax
If using the software.
- Select the Federal Taxes tab, then Wages & Income.
- Click "I'll choose what I work on."
- Find Business Income and Expenses (Sch C) and click Start/Update.
- Click Edit next to your business.
- On the "Your Business" summary screen, scroll down to Business Expenses and click Start/Update next to Home Office Expense.
- You can also delete the forms by going to the forms mode in the software and deleting the 8829 and Home Office Asset worksheet. Then, you can enter the information again.
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2 weeks ago