1598407
You'll need to sign in or create an account to connect with an expert.
I think you are saying you use the same home office for both a W-2 job and your self employment. Yes, you may deduct a portion of the home office. W-2 employees are not allowed to deduct home office expenses. So, for example, during the year you worked 500 hours, in the home office, on your W-2 job and 1500 hours on your self employed work, you may deduct 75% (1500 / 2000) of the home office cost on Schedule C.
I'm of the opinion that "regularly and exclusively" means for paid work and is not limited to your self employment. It does not matter if the work is similar, on the two jobs.
If your home office is used regularly and exclusively and is your principal place of business for your self-employment work, then you would qualify to take the home office deduction with your Schedule C business.
To be considered exclusive to the Schedule C business, you should not be using the same space as a home office for your part-time job.
Take a look at the following TurboTax article for more information: Can I take the home office deduction?
I think you are saying you use the same home office for both a W-2 job and your self employment. Yes, you may deduct a portion of the home office. W-2 employees are not allowed to deduct home office expenses. So, for example, during the year you worked 500 hours, in the home office, on your W-2 job and 1500 hours on your self employed work, you may deduct 75% (1500 / 2000) of the home office cost on Schedule C.
I'm of the opinion that "regularly and exclusively" means for paid work and is not limited to your self employment. It does not matter if the work is similar, on the two jobs.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
chappywolf
New Member
sarafrey1
New Member
kalaquendi
New Member
peggy1
New Member
jmelson02
New Member