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K
Ksmesq
Level 2
October 13, 2022

Home Office

  • October 13, 2022
  • 1 reply
  • 7 views

I have a client with an unused home office deduction due to loss limitations.  Can it be used in the year the business closes?

    This topic has been closed for replies.

    1 reply

    IRonMaN
    IRonMaN
    Level 15
    October 13, 2022

    Only if they have enough income to offset the expenses.

    Slava Ukraini!
      K
      KsmesqAuthor
      Level 2
      October 14, 2022

      So if they never have income for that business again, they will never be able to use it?

      It does not get triggered if the close the business or sell the property like for a rental business operation?

       

      abctax55
      abctax55
      Level 15
      October 14, 2022

      So if they never have income for that business again, they will never be able to use it?

      Correct 

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