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Why is my Home Office deduction being adjusted and my overall Deduction Total being limited to my total Self-Employed Income? Can't I show a loss?

 
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IreneS
Intuit Alumni

Why is my Home Office deduction being adjusted and my overall Deduction Total being limited to my total Self-Employed Income? Can't I show a loss?

No - You cannot use the home office deduction to create a loss on your business return (Schedule C).  Your home office deduction is limited to the net income on Schedule C.  The rest will be carried forward to next year.

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1 Reply
IreneS
Intuit Alumni

Why is my Home Office deduction being adjusted and my overall Deduction Total being limited to my total Self-Employed Income? Can't I show a loss?

No - You cannot use the home office deduction to create a loss on your business return (Schedule C).  Your home office deduction is limited to the net income on Schedule C.  The rest will be carried forward to next year.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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