I have a home office in my home. We also have material and equipment stored on our property and a seperate structure for storage. How do I calculate the total sq. footage of the house to include the land storage. House is 3000sf, office is 300sf, building is 200sf, land storage area is 2000sf and total property we live on is 2 acres.
If I say office plus building plus land I have 2500sf. House is 3000sf plus building and land I'm at 44% usage. But should I actually calculate the sq ft. as total 2 acres to get accurate percentage of use? I hope this makes sense.
Thank you!
The land is not depreciable. You would have two home offices. Enter one for the house and one for the separate storage facility.
Please see this answer from Molly_K.
You would enter these separately, as 2 home offices. In the product there is the ability to enter 2 separate home offices. Once you enter the first you will see a landing table for the "home office summary" where you can add a new one. If you use the separate structure exclusively and regularly for your business, you qualify to deduct home office expenses. It does NOT have to be your principal place of business or the place where you meet patients, clients, or customers.
After you answer the first 2 questions for the 2nd home office (outbuilding), you will see the next question "Do any of these apply to your home office? Check the box "This home office is a separate structure"
When you arrive at the "business conducted in home office" screen you will pro-rate the 100% between the two however you feel allocation is best (say 50-50)
So long as you can say you worked at least 15 days in the one month span on 2016, the product should allow you to take 2 home offices.