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No, once the information is zeroed out, it will not carry over to the following year. You should make some notes about it if you need to keep that information for your records.
One thing to consider, if you are trying to use the Simplified Method to claim your home office expense, then your income may be limiting that deduction and it cannot be claimed for the 2024 tax return. But, if you enter the actual expenses related to your home office instead, then those expenses can carry over to a later year if you cannot claim them in the current year due to an income limitation.
Turn the answers into blanks. The program is trying very hard to give you credit and it won't be able to once the home office entries are blank. This will allow you to get through review and file.
Thanks. Will Turbo Tax hold onto the info for this section (size of space, when I started using it etc.) if I zero it out? This is the first year in 30 years I've not qualified, and will make enough in 2025 to qualify, so just wondering if that's an issue.
Thank you!
No, once the information is zeroed out, it will not carry over to the following year. You should make some notes about it if you need to keep that information for your records.
One thing to consider, if you are trying to use the Simplified Method to claim your home office expense, then your income may be limiting that deduction and it cannot be claimed for the 2024 tax return. But, if you enter the actual expenses related to your home office instead, then those expenses can carry over to a later year if you cannot claim them in the current year due to an income limitation.
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