Solved: For the home office credit, in Turbo Tax self-empl...
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keith27
Level 1

For the home office credit, in Turbo Tax self-employed it does not allow me to enter the income from my K-1 statement. As a result, I can't get the credit. Suggestions?

Turbo Tax won't calculate the credit without knowing my income in this section. If I enter the income again, then Turbo Tax will double tax me for federal taxes
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AmeliesUncle
Level 11

For the home office credit, in Turbo Tax self-employed it does not allow me to enter the income from my K-1 statement. As a result, I can't get the credit. Suggestions?

Yes, the worksheet is on page 21 of Publication 587.  But it is pretty much identical to Form 8829, so I think the 8829 is easier to use.

https://www.irs.gov/pub/irs-pdf/p587.pdf#page=21

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5 Replies
AmeliesUncle
Level 11

For the home office credit, in Turbo Tax self-employed it does not allow me to enter the income from my K-1 statement. As a result, I can't get the credit. Suggestions?

Do NOT be entering information in the Home Office section as a Sole Proprietor business.

 

For the K-1, are you a member of a Partnership?  Or are you a shareholder of a S-corporation?

keith27
Level 1

For the home office credit, in Turbo Tax self-employed it does not allow me to enter the income from my K-1 statement. As a result, I can't get the credit. Suggestions?

I am a member of a partnership

AmeliesUncle
Level 11

For the home office credit, in Turbo Tax self-employed it does not allow me to enter the income from my K-1 statement. As a result, I can't get the credit. Suggestions?

 IF the Partnership Agreement requires you to pay for those expenses, then you can deduct it in the section where you enter your K-1.  There should be a check-box asking if you had expenses.

 

However, the program does not have a handy office form for that, so you will need to manually fill out Form 8829 to calculate what your office deduction will be.

keith27
Level 1

For the home office credit, in Turbo Tax self-employed it does not allow me to enter the income from my K-1 statement. As a result, I can't get the credit. Suggestions?

Very helpful, thank you. Although in Turbo Tax it indicates the correct form is IRS publication 587. 

AmeliesUncle
Level 11

For the home office credit, in Turbo Tax self-employed it does not allow me to enter the income from my K-1 statement. As a result, I can't get the credit. Suggestions?

Yes, the worksheet is on page 21 of Publication 587.  But it is pretty much identical to Form 8829, so I think the 8829 is easier to use.

https://www.irs.gov/pub/irs-pdf/p587.pdf#page=21

View solution in original post

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