8829-PART YEAR

[michaelmars]

Got a client that uses 20% of home for business. but this only started 10/1/07 how do i enter the percentage so that sch A items transfer correctly? - anyone have any clues?

[Pacun]

Nothing automatically. You will have to devide the whole amount by 5 and then you divide it by 6. That will give the amount for office.

[michaelmars]

i figured the entry at top of date business started would do it but oh well -thanks

[jainen]

>>devide the whole amount by 5 and then you divide it by 6<<

Depreciation is no problem because MACRS uses mid-month from the date placed in service. For other expenses such as utilities and mortgage interest, show the amounts paid for the months of business use; Form 8829 will apply the percentage correctly. Other interest not allocated to the business months should be entered directly on Schedule A.