slohtia
New Member

Deductions & credits

I believe that is not correct.  33% is calculated on full house.  Not half house.  So, if there are 2 biz with 33% each then you are using 66% of the house.  In your example, it will be $44000 * 0.66 =  $29040.

 

But how you claim is 33% of $44000 in each business. So each Sch C will have $44000 * 0.33 = $14520.

 

Hope it makes sense.  Again, SALT is the limit for total property tax claimed in Sch A.  Your claim in Sch A will be reduced by $29040.