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fazthegreat
Returning Member

Stuck at this 8829 Step in Review

Hi,

So this is my first time using Turbo Tax. I filled in all the information which included my business expenses. At the end where the system reviews everything it keeps taking me to this 8829 form and needs Description of Asset. I believe this where you specify all business assets and expenses but I already did this. Not sure why is this asking again. On top of that the layout does not seem very user friendly. Can someone please advise what do I need to do here. 

Thanks

Foz

3 Replies
CatinaT1
Expert Alumni

Stuck at this 8829 Step in Review

Form 8829 is for Business Use of Home.

 

https://turbotax.intuit.com/tax-tips/small-business-taxes/what-is-irs-form-8829-expenses-for-busines...

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fazthegreat
Returning Member

Stuck at this 8829 Step in Review

I do understand that but why is it showing me this after I have already entered all the home business expenses.

Thanks.

AnnetteB6
Expert Alumni

Stuck at this 8829 Step in Review

It is requesting the information at the end because something was not filled out when you went through that section.  The 'description of asset' is a required field that must be entered.  

 

'Description of asset' indicates that you entered something that needs to be depreciated.  If you did not enter any specific assets for depreciation (such as office furniture or computer), then the most likely missing piece is the office itself.  Because it is being used for business purposes, that portion of your home will be depreciated.  You can enter 'home office' for the description of the asset.

 

You are correct, the pages that pop-up during the review process are not necessarily user-friendly.  You can revisit the pages where you first entered the information to double-check your entries if you would prefer to do that.  

 

 

@fazthegreat

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