Catherine Posted December 1, 2015 Report Share Posted December 1, 2015 OK. Client had -and took - Office in Home expenses for years. Fine. In the last year of his business, however, he had a loss (medical reasons; lots of complications on that year's return). I thought it was possible to take the loss on office in home expenses (and any carry-forward losses, which he does not have) in the final year of the business. But I can find nothing online or in the various pubs that either confirms OR denies this. Lots of mentions of carrying losses forward to when they can be taken. Ditto for depreciation on the home office; can it be taken -- and if not, then it would be excluded from the "allowed or allowable" depreciation recapture upon sale of the home (no income due to illness; he sold before he totally ran out of money), yes? Quote Link to comment Share on other sites More sharing options...
mcb39 Posted December 1, 2015 Report Share Posted December 1, 2015 I don't think that you can take business use of the home expenses in excess of the net profit of the business. The rest is a carry-forward. 2 Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted December 1, 2015 Report Share Posted December 1, 2015 Unused business use of home expenses are lost, except for mortgage interest and real estate taxes which are always allowed. 2 Quote Link to comment Share on other sites More sharing options...
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