Would it be bad to retroactively change my 2014 Business-use-of-home expense, so as to have a carry forward for 2015?

In my 2014 return, I did not tally up my Business-use-of-home expenses as my self-employment income was relatively low and it didnt seem necessary at the time.

In my 2015 return, I see there is a field to carry forward previous years expenses, which I unfortunately did not fill out before. Would it be bad to amend the previous years return to include these home expenses, even though my income was below the amount where it mattered, just so I can use it on my 2015 return? Or is this even possible?

Answer

If you are already in a loss position in 2014, you would not likely be allowed to do so.

Per CRA:

The amount you can deduct for business use of home expenses cannot be more than your net income from the business before you deduct these expenses. In other words, you cannot use these expenses to increase or create a business loss.


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