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Do i enter annual home office expenses or just a portion of it on Turbotax online?
I have home office expenses from my self-employed job. How should I enter that into Turbotax online? The software asked me to provide "total amount for expenses."
Does that mean I put the total cost of rent, internet and utilities for the entire year in the section? Will turbotax calculate the percentage usage automatically? Or do I need to calculate the percentage usage manually and put that number in home office expenses?
Thank you
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Self-employed
You would enter the total amount of the expense, and then TurboTax will calculate your allowable portion based on the information about your workspace that you gave earlier.
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Self-employed
Thanks for the info! Appreciate your help.
Actually, I forgot to add more critical information about my self-employment job. I only worked on my job for half the year, from September to December. Do I put the total cost of rent, internet and utilities just for those 4 months or for the entire year?
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Self-employed
If you worked only as self-employed from September to December, you will have to change the fiscal period in your Self-employment section, or on the T2125 form if you are using TurboTax Desktop).
Thank you for choosing TurboTax.