My client has a home office for her two businesses. One had a profit and one a loss. She moved from house A to house B. It cost her $1.000 to move her business items from her old office to her new office. The cost of moving her personal items is not at issue as her income tax is zero. Usually I deduct this on Schedule C as ofifce relocation. 80% of this expense applies to the business with a profit so it is deductible whether I use Schedule C or form 8829.
However for the business which has a loss if I deduct it on Schedule C she reduces her SE tax and if I deduct it on form 8829 she gets a carryforward. As the things she moved were tangible objects like desks and books I think it is ok to deduct on Schedule C. But something is saying 8829 is the way to go. Any thoughts?
However for the business which has a loss if I deduct it on Schedule C she reduces her SE tax and if I deduct it on form 8829 she gets a carryforward. As the things she moved were tangible objects like desks and books I think it is ok to deduct on Schedule C. But something is saying 8829 is the way to go. Any thoughts?
Comment