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boilers99
New Member

Do I enter utilities for the entire year for a home office if I only had a home office for 6 months of the year?

 
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NicoleU
New Member

Do I enter utilities for the entire year for a home office if I only had a home office for 6 months of the year?

For half a year, if you had the home business for half a year. 

For example; if your electric bill was $100 each month, that would be $600 for the year. 

If your office uses 15% (office square footage is 150 and your home total square footage is 1000, then 150/1000 = 0.15 X 100 = 15%) of your home, then you will deduct 15% of $600 and you will be able to claim $90, you will do this for all of your home expenses for the year, not only utilities. 

You can also use the Simplified Square Footage method which allows you to multiply the square footage of your office by $5.00 and use that total as your deduction.  

For example; home square footage is 150, (150 X $5 = $750), $750 is the deduction you would claim. For more information, please click this TurboTax link: https://turbotax.intuit.com/tax-tools/tax-tips/Small-Business-Taxes/The-Home-Office-Deduction/INF120...

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NicoleU
New Member

Do I enter utilities for the entire year for a home office if I only had a home office for 6 months of the year?

For half a year, if you had the home business for half a year. 

For example; if your electric bill was $100 each month, that would be $600 for the year. 

If your office uses 15% (office square footage is 150 and your home total square footage is 1000, then 150/1000 = 0.15 X 100 = 15%) of your home, then you will deduct 15% of $600 and you will be able to claim $90, you will do this for all of your home expenses for the year, not only utilities. 

You can also use the Simplified Square Footage method which allows you to multiply the square footage of your office by $5.00 and use that total as your deduction.  

For example; home square footage is 150, (150 X $5 = $750), $750 is the deduction you would claim. For more information, please click this TurboTax link: https://turbotax.intuit.com/tax-tools/tax-tips/Small-Business-Taxes/The-Home-Office-Deduction/INF120...

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