Discussion ongoing
home office optimization and diagnostic
2/14/24 Valentine's Day!
For 2023 Lacerte. Situation: Loss on Schedule C and Home office deduction.
The software reduces the RE taxes and Mortgage interest on Sch. CA by the amount disallowed (due to the loss on Sch. C). I had assumed that it would optimize as it is a better tax benefit to increase itemized deductions than take a non-deductible home office.
Similar to the useful diagnostic that LC provides for investment interest, a diagnostic for this situation would benefit us.
