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Returning Member
posted Sep 9, 2019 4:29:17 PM

When I enter assets under Personal Deductions & Credits, the estimated expense for the assets is always zero. Why is that? I have a W-2 job and am self-employed.

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2 Replies
Level 15
Sep 9, 2019 5:05:04 PM

W2 job expenses are no longer deductible on schedule A as a personal deduction.   Only on schedule C as a self employment  business expense.

Returning Member
Oct 12, 2019 10:12:50 PM

Thanks so much for the response. 

I am also a trader in securities. So, I enter my gains on Form 4979 and business expenses (trading programs and other computer related expenses) on Schedule C, but I don't know where to enter my home office expense (i.e., rent and utilities portion allocated to the office)? Since I entered  trading income on Form 4979 and the business expenses on Schedule C, I have a net loss on Schedule C, and when that's the case, the home office expense becomes not deductible under Schedule C. Is there any other place I can enter home office expense? Thanks so much, and if you can reply timely, I would be ever so grateful.