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H
hmosbergea
Level 3
April 11, 2020

Multi use home office - Still Eligible?

  • April 11, 2020
  • 1 reply
  • 8 views

100 % home office used for: landlord business (rentals - Schedule E); Consulting business (Schedule C) and investing (not a business).

Question: Since Home Office not used 100 % for consulting - (60% time for consulting and 40% rentals and investing) is a prorated deduction still allowed for Consulting and zero for the other 2 activities?

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    1 reply

    BobKamman
    BobKamman
    Level 15
    April 11, 2020

    Investing is not a business.  Since the office is not used exclusively for business, no deduction is allowed.  

    Some taxpayers get away with calling rentals a business, depending on the extent and nature of their activities.  But that doesn't matter, here.

    Tell him to stop investing.  He's losing a fortune, anyway.  

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