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stucomstock
New Member

The simplified home office deduction is not calculating correctly; why?

My home office is 150 sq feet. With the simplified home office deduction at $5/sq foot, my deduction should be $750. I have done it 5 times now and it keeps coming out as $321; what am I doing wrong?
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Accepted Solutions
Lisa995
Level 12

The simplified home office deduction is not calculating correctly; why?

solved in comments

♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪

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4 Replies
Lisa995
Level 12

The simplified home office deduction is not calculating correctly; why?

How much net profit do you have?
♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪
stucomstock
New Member

The simplified home office deduction is not calculating correctly; why?

Ahhhh, $321. Can you not have a negative profit if you choose the simplified version?
Lisa995
Level 12

The simplified home office deduction is not calculating correctly; why?

That's correct.
♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪
Lisa995
Level 12

The simplified home office deduction is not calculating correctly; why?

solved in comments

♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪
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