Have a small practice, net of $410 i usually file home office form, if i do not file the home office form this year, will it matter if i need to use the form next year?

[AmandaR1 · Accepted solution]

No, you should take the home office whenever you meet the criteria. It will not matter if you then qualify next year. It would make sense if you had less activity in your business this year to have less expenses and then more expenses when you have greater income.

[mypersonalmessag]

however, i just filled the form out and it is allowing me to take more deductions next year, so would it not be a good idea to actually file it this year. in addition, i now have way under the $400 self employment net

[AmandaR1]

It's required to report your income and expenses in the related year's tax return. It's also mandatory to file income, regardless of amount. Self-employment taxes are calculated if the net amount is less than $400, but income taxes are. If you have a loss it will offset other income.

[mypersonalmessag]

i understand that i am to file income taxes though i have no income taxes to pay [mortgage, etc] but i was wondering about filing the home office form. that was my question...however, i now think i need to file it as i do every year???