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Business & farm
I thought I would address a couple of issues in this string. The Schedule C Line 25 Utilities is indeed a sum of the Turbo Tax entries for utilities and communications. However, it is important to note that if you Work from Home (WFH) and have a home office, then your typical home utility expenses (electric, gas, water) are entered in the IRS Form 8829 and then are prorated for the % of your home that is used for business. Then, only any those utility expenses that are dedicated to your business, such as an additional dedicated land line or a % of your mobile phone cost, would be entered in Schedule C.
‎September 1, 2022
4:41 AM