Re: Sched. C

From: "D. Stussy" <spam@xxxxxxxxxxxxxxxx>
Date: Tue, 29 Apr 2008 21:21:40 -0700

"R R" <client7@xxxxxxxxx> wrote in message
news:23885-4817AE28-646@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

Question for the experts.. I'm a self employed professional working from
home. I use about .30 of my home for biz. Can I deduct .30 of my
mortgage payments (for my home) on line 16b (mortgage paid to banks)?

No. Schedule C line 16b is the wrong place for it.

However, agreeing with the other answer, the appropriate place for the
deduction is on Form 8829.

.

References:
- Sched. C
  - From: R R

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Relevant Pages

Sched. C
... I'm a self employed professional working from ... I use about .30 of my home for biz. ... Can I deduct .30 of my ... mortgage payments on line 16b? ...
(misc.taxes)
Re: Sched. C
... I use about .30 of my home for biz. ... mortgage payments on line 16b? ... And you can deduct the proportional amount of mortgage interest, ...
(misc.taxes)