AHGatto, CPA wrote:

- quote -

Further to the allocation. Two ways to do it:
1. allocate on the basis of gross revenues (or net profits even)
2. allocate on the basis of time spent on each business in office.

ChEAr$,
Harlan Lunsford, EA n LA

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I agree with above. You do need to prepare a 8829 for each
business that uses the home office. You may even need to
allocate amoung different forms of business. You might use
the home office for your Schedule C business but also for
your Schedule E partnership or LLC.

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Taxmama wrote:

- quote -

I don't believe that's correct. There will be multiple
8829s only where there are multiple residences (such as when
a taxpayer sells one and moves during the year). Remember
that the instructions for Line 8 includes not only the net
income from Schedule C (or F) but also gains from Schedule D
or form 4797. Only if "tier 1 expenses" exceed net income
(before the 8829 result is applied) or if home use expenses
are exceeded by line 8 income will there be an allocation.
Otherwise, all amounts carried to other schedules will zero
them out and the excess will go to the 280A carryforward
lines.

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Taxmama <taxlady[at]nospam.pacbell.net> wrote:

- quote -

I agree.

However, I believe the 8829 itself and its instructions seem
to want to have it both ways: allowing separate 8829s for
each scheddule C, as stated in the instructions for line 8,
but also to allow one 8829 but later allocate bottom line of
the 8829 to each schedule C. The Line 8 instructions seems
to advocate using separate 8829s for each Sch C, while the
form itself and its instructions for line 34 seem to
advocate one 8829 but later allocating line 34 to each
schedule C.

__
Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH

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I don't know what software you are using, but yes there
should be a separate form 8829 for each schedule C. My
software permits me to allocate to which schedule C. If
your software won't permit, then you will have to allocate
manually. Indicate in the upper name block where your name
is to be inserted and add "Schedule C-1, or Schedule C-2,
etc." Just make sure the right totals carry to the proper
Schedule C.

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There does not seem to be a place on form 8829 to indicate
which schedule C it's for. If you run more than one
business from home, shouldn't you file more than one 8829?

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