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Business & farm
Yes, the office and computer are two separate matters. And your idea is correct, but it is not necessarily that straightforward.
There are limitations applied to claiming a home office. For example, home office expenses cannot take your business into a loss situation. Expenses not able to be claimed in the current year due to that limitation may be carried forward to future years if you use the actual expense method of claiming the home office. The simplified expense method does not allow you to carry over unused expenses. This is explained in a little more detail as you go through the home office section under your Schedule C in TurboTax.
For the computer or similar equipment, you would be asked to enter the full cost of the item along with the business percentage of use. Then TurboTax will do the math for you to calculate the amount to be deducted or depreciated.
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