I have a home office. I use the home office for 2 separate
businesses. One of the businesses is online retail. For the online retail
business, I store the inventory in the office, do the ordering, bookkeeping and
mailing. The other business is a service business for which I use the office
for mostly bookkeeping. I report business income expenses separately for each
business.
I'm using Turbo Tax Home and Business. Turbo tax asked “Did you share this home office with someone
who also used it as a home office and who is also going to take the home office
deduction for it?” I answered "yes". It does not ask what percentage or sq foot I shared.
I have
calculated the square foot of the office space and the square foot of the
entire house. For example the office space is 280 sq feet. Do I split the sq
feet between the 2 businesses even though I’m using the same desk for both? Or
is there some place to enter a percentage?
