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I am looking at Schedule C - Form 8829 Part II line 7 and am not sure what an allocable home office expense is? What should I put on this line.


ANSWER


Expert Wray Rives's Answer:

 There is no line 7 in part II of Form 8829.  On form 8829 Line 7 is the percentage of your home used exclusively for the business.  Unless you are a daycare Line 7 on Form 8829 is the same percentage as line 3.

Wray Rives, CPA

Texas

29 yrs experience

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