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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.
6 hours ago