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April 12, 2024
Question

When entering home office expenses, do you enter the entire expense or only the deductible amount?

  • April 12, 2024
  • 1 reply
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For example, if you pay $1000 a month for rent and use 25% of your space for your business, do you enter $1000 as your rent expense and allow SE to do the math or enter $250?

1 reply

April 12, 2024

You can record 25% of your monthly rent for your home office expense instead, Alexandra. However, you can check the IRS website to confirm if your home office qualifies.

 

You only need to meet one of two basic qualifications to qualify. Check out this article for more information: Track home office deductions in QuickBooks Solopreneur.

 

Let me share these articles that can help you manage your account: 

 

 

We'll be here if you still have any questions about your expense transactions. Have a great day!