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Amending 07 office space rental

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    Amending 07 office space rental

    A client called the other day and wanted to know where her office in home expense was for
    tax year 2007. Was comparing 2008 and 2007 and could not find it on either. She wants to take utilities, insurance, and who knows what other expenses for all 5 of the rental properties
    she owns due to doing paperwork and storing tools So told her to get it all together and will look at it but was questioning - does anyone take office in home expense for rental properties? I truly don't think she really has a space just for that like my office off to side of house. I think I remember it being on kitchen table - so any thoughts on amending 2007 for that to take?
    Glad it has quieted down - haha....

    #2
    I don't

    take a OIH on investment income. If client want to claim income on Sch C maybe but not on Sch E. Just my opinion.

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      #3
      Thanks

      Thanks for your opinion - it helps for a backup

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        #4
        The pub for OIH says that the deduction applies to income from a trade or business. I don't think that rental income qualifies for the deduction.
        You have the right to remain silent. Anything you say will be misquoted, then used against you.

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          #5
          I agree. No OIH for rentals.

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