Line 28 Total Expenses
Line 29 Tentative profit or (loss). Subtract line 28 from line 7
Line 30 Expenses for business use of your home. Do not report these expenses elsewhere. Attach Form 8829 unless using the simplified method. See instructions.
Simplified method filers only: Enter the total square footage of (a) your home:
and (b) the part of your home used for business: 2405 total/used 300 = BLANK
Line 31 Net profit or (loss). Subtract line 30 from line 29.
• If a profit, enter on both Schedule 1 (Form 1040), line 3, and on Schedule SE, line 2. (If you
checked the box on line 1, see instructions). Estates and trusts, enter on Form 1041, line 3.
• If a loss, you must go to line 32.
Since I cannot use more than $1500 and it is $873, Line 31 should be ZERO.
Line 29 873
minus Line 30 873
Line 31 should be 0 which will result in a savings/deduction.
posted
last updated
April 10, 2022
6:58 PM