Level 3

Question

office in home and std deduction

Forum|Forum|5 years ago
February 4, 2021
5 replies
40 views

was at education and was mentioned that if office in home ie.8829-then needs to use sch A for deductions, not std deduction on 1040. Can't find this written anywhere-anyone else know about this/ Could make a big difference.

Joan

Stand-Alone

This topic has been closed for replies.

dascpa

Level 11

Either you misunderstood or your instructor was clueless. No more 2106 expenses therefore for employees no office in home deduction. Only applies to Sch C.

J

joanvAuthor

Level 3

not talking about 2106, asking about 8829 where deducting int + taxes on the sch c-was told that if claimed on the 8829, needed to use sch A instead if standard deduction on 1040-was from IRWS atty. to this speaker.

J

joanvAuthor

Level 3

meant IRS

Just-Lisa-Now-

Intuit Community Champion

I feel like there is something about the mortgage interest and property taxes with 8829 and whether you use standard or itemize...I have so few of these, I can't remember how it works.

@TaxGuyBill I feel like I saw you explain something about this last year., does this ring any bells?

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

T

TaxGuyBill

Level 15

You may have misunderstood. You usually end up with the same results.

If you itemize, then you enter the mortgage interest and taxes on Lines 10 and 11 of Form 8829 (if you are hitting the $750,000/$1,000,000 limit, then part of it may go to lines 16 and 17).

If you don't itemize, they go on Lines 16 and 17.

J

joanvAuthor

Level 3

asking, because the standard deduction sometimes is higher than interest & taxes, charity -but still limited to schedule A-

just haven't written anywhere I've looked.

Know where I can look?

JRC

Level 7

Yes you must Itemize if you are Deducting Mortgage Interest on Line 10b of Form 8829. Even though your Itemized Deductions are Less than the Standard Deduction. Instructions for Form 8829 will go through each line and if you have to Itemize or not. My understanding is if you use Lines 9-11 (Col. b) you cant use the standard deduction and must Itemize.

George4Tacks

Level 15

8829 Instructions, bottom of page 2

Taxpayers claiming the standard deduction. If you claim the standard deduction, you will not include any mortgage interest, mortgage insurance premiums, or real estate taxes on lines 10 and 11; instead, you will claim the entire business use of the home portion of those expenses using lines 16 and 17. If you are not increasing your standard deduction by a net qualified disaster loss, then you will not include any casualty losses on line 9; instead, you will claim the entire business use of the home portion of your casualty losses on line 29. If you are filing Schedule A to increase your standard deduction by a net qualified disaster loss, see Casualty losses reported on line 9, later.

You may prefer to itemize your deductions on Schedule A to claim amounts on lines 9, 10, and 11, even if your total personal deductions are less than the standard deduction.

Answers are easy. Questions are hard!

T

taxes96786

Level 8

Sch C options will transfer allocated home office expenses that apply to Sch A...ie property tax and mortgage interest.

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