PART
1—Part of Your Home Used for Business: |
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1) |
Area of home used for business |
1) |
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2) |
Total area of home |
2) |
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3) |
Percentage of home used for
business (divide line 1 by line 2 and show result as
percentage) |
3) |
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% |
PART
2—Figure Your Allowable Deduction |
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4) |
Gross income from business (see
instructions) |
4) |
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(a)
Direct Expenses |
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(b)
Indirect Expenses |
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5) |
Casualty losses |
5) |
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6) |
Deductible mortgage interest
and qualified mortgage insurance premiums |
6) |
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7) |
Real estate taxes |
7) |
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8) |
Total of lines 5 through 7 |
8) |
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9) |
Multiply line 8, column (b), by
line 3 |
9) |
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10) |
Add line 8, column (a), and
line 9 |
10) |
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11) |
Business expenses not from
business use of home (see instructions) |
11) |
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12) |
Add lines 10 and 11 |
12) |
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13) |
Deduction limit. Subtract line
12 from line 4 |
13) |
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14) |
Excess mortgage interest and
qualified mortgage insurance premiums |
14) |
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15) |
Insurance |
15) |
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16) |
Rent |
16) |
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17) |
Repairs and maintenance |
17) |
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18) |
Utilities |
18) |
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19) |
Other expenses |
19) |
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20) |
Add lines 14 through 19 |
20) |
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21) |
Multiply line 20, column (b) by
line 3 |
21) |
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22) |
Carryover of operating expenses
from prior year (see instructions) |
22) |
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23) |
Add line 20, column (a), line
21, and line 22 |
23) |
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24) |
Allowable operating expenses.
Enter the smaller
of line 13 or line 23 |
24) |
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25) |
Limit on excess casualty losses
and depreciation. Subtract line 24 from line 13 |
25) |
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26) |
Excess casualty losses (see
instructions) |
26) |
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27) |
Depreciation of your home from
line 39 below |
27) |
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28) |
Carryover of excess casualty
losses and depreciation from prior year (see
instructions) |
28) |
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29) |
Add lines 26 through 28 |
29) |
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30) |
Allowable excess casualty
losses and depreciation. Enter the
smaller of line 25
or line 29 |
30) |
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31) |
Add lines 10, 24, and 30 |
31) |
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32) |
Casualty losses included on
lines 10 and 30 (see instructions) |
32) |
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33) |
Allowable expenses for business
use of your home. (Subtract line 32 from line 31.)
See instructions for where to enter on your return
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33) |
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PART
3—Depreciation of Your Home |
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34) |
Smaller of adjusted basis or
fair market value of home (see instructions) |
34) |
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35) |
Basis of land |
35) |
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36) |
Basis of building (subtract
line 35 from line 34) |
36) |
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37) |
Business basis of building
(multiply line 36 by line 3) |
37) |
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38) |
Depreciation percentage (from
applicable table or method) |
38) |
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% |
39) |
Depreciation allowable
(multiply line 37 by line 38) |
39) |
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PART
4—Carryover of Unallowed Expenses to Next Year |
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40) |
Operating expenses. Subtract
line 24 from line 23. If less than zero, enter -0- |
40) |
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41) |
Excess casualty losses and
depreciation. Subtract line 30 from line 29. If less
than zero, enter -0- |
41) |
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