topic Can I use the simplified method for two 8829 forms (I have two spaces in my house for self employed work)? Federal reivew flags this and asks to check this entry. in Retirement tax questions

Can I use the simplified method for two 8829 forms (I have two spaces in my house for self employed work)? Federal reivew flags this and asks to check this entry.

ross-burghardt — Thu, 18 Mar 2021 01:08:22 GMT

Schedule C (Fitness Instructor) -- Form 8829 (my office): Elect Simple ***** CY should not be elected for more than one copy of Form 8829 for each business.

Options to slect are:
No entry
Elect Simple ***** CY, Yes
Elect Simple Meth, CY, No

I have only one business but two spaces that I use in my home.

Re: Can I use the simplified method for two 8829 forms (I have two spaces in my house for self em...

CatinaT1 — Thu, 18 Mar 2021 13:21:35 GMT

This link addresses your situation and how to enter it into TurboTax: 2 Home Offices

There are two basic requirements for your home to qualify as a deduction:

Regular and exclusive use.
Principal place of your business.

You must regularly use part of your home exclusively for conducting business. For example, if you use an extra room to run your business, you can take a home office deduction for that extra room.

You must show that you use your home as your principal place of business. If you conduct business at a location outside of your home, but also use your home substantially and regularly to conduct business, you may qualify for a home office deduction.

Re: Can I use the simplified method for two 8829 forms (I have two spaces in my house for self em...

ross-burghardt — Sat, 20 Mar 2021 18:06:22 GMT

Since I use two areas of my home can I take two deductions using the simplified method? TurboTax is complaining that I can't file two different 8829 forms when electing the simplified method for both.

Re: Can I use the simplified method for two 8829 forms (I have two spaces in my house for self em...

AnnetteB6 — Sat, 20 Mar 2021 20:51:23 GMT

No, you cannot enter two separate home offices for a Schedule C and use the simplified method for both spaces. It is not allowed by the IRS.

If both areas of your home are qualified home offices for the same Schedule C business, combine the square footage of them both and enter it as a single home office. Otherwise, you must enter actual expenses for one of the spaces.

@ross-burghardt