Home office question

[Margaret CPA in OH]

Finally doing my own return. I have qualified home office. This year, depreciation disappeared although data fields are there but locked. So I try to follow the instructions and enter on Fixed Assets. The calcs on the Home Office Exp sheet are wrong. If I enter the full value (minus land), line 38 shows it and line 39 shows the business basis, 6.25%, but the calculation for depreciation, 2.564%, looks to the total basis. If I input the 6.45% amount on fixed assets, line 38 shows that but 39 shows the basis as $615 but then the depreciation calculation is correct at $252, same as last year and other years.

Guess I need to call tech support. I hesitate to file with the wrong basis even though I know the depreciation is correct. Thoughts? My first big glitch and I am not thrilled. At least it's my own return.

[joanmcq]

You have to choose home office as the type of asset. Are you doing that?

[Margaret CPA in OH]

Hah! It seems all I needed to do was shut it down. This morning when I opened the return, all was right with the world. I guess sometimes the calcs need time to simmer. Yes, I did have everything marked as home office. The red warnings took me there.

Thanks!

[Terry O]

I have found that a number of caculations need to have the return closed and reopened inorder to get the correct information to flow.

When all else fails - -reboot!!!!!!

[Abby Normal]

I've found that the 8829 only shows the original home basis, not any improvements, but the total depreciation is right. Maybe the IRS wants it this way?

[Abby Normal]

I have found that a number of caculations need to have the return closed and reopened inorder to get the correct information to flow.

When all else fails - -reboot!!!!!!

Sometimes, saving the return calculates the return.

[Margaret CPA in OH]

I did see that the improvements depreciation added to the building depreciation. Took a while to get to that, too, but finally found it. I guess so long as the details are in FA and tied to Home Office, all is good. Just threw me for a loop and not at a good time.