Again, because my business lost money in 2024, the amount allowed for business use of the home (form 8829) is less than what was spent. This high spending was mostly due to an excessive home insurance premium (rates in FL have gone nuts). Line 43 refers to a carryover to 2025 of unallowed expenses. How does this work? Will this show up automatically when I transfer my data to next year's return using Turbotax? What if my business shows a loss again next year (I hope not)? Thanks.
You'll need to sign in or create an account to connect with an expert.
Any unallowed expenses from your tax return that are allowed to be carried over into the next year should be taken care of automatically by the TurboTax software. But it is always a good idea to maintain your own records of these things so that you can double check the numbers when starting next year's tax return.
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.
laurag25
Level 4
dominarofaction
Level 2
kgz1
Level 1
ekarthick-ek
New Member
sarahwolfgram88
New Member