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Retirement tax questions
You need to use Forms Mode, but you can accomplish your objective (including the home office deduction) by following the instructions below.
For traders who claim a home office on their Schedule C, a manual adjustment must be made to show that the trader business had a gain for the year. Otherwise, the home office deduction is disallowed. Use the following steps to make that manual adjustment:
- In Forms Mode, go to Form 8829
- Scroll to the Line 8 Calculation Smart Worksheet
- Enter the ‘trader’ gain amount (referenced in the instructions above) on line C2
August 26, 2021
8:46 AM