How do I take a home office deduction for my self-employed work or business? - Will a home office deduction trigger the IRS? - How do I take a home office deduction? - How much can I write off? - Amanda here from the business finance coach, where I'm simplifying finances so that you can grow your self-employed work. - In this video, I'll be clarifying the home office deduction so that you understand if you qualify to take it, how to take it, what amount you can write off, and if it's an audit trigger or not. - I'll also be showing you how to enter this in TurboTax. - I'll be talking about how the write-off works while showing you in the TurboTax software. - This is the fourth video from my self-employed video series in TurboTax, showing you how to enter a self-employed business. - Let's jump in. - So, I click the personal tab. - And as I've said every time, this is Mac software. - I'm going to select "I'll choose what I work on," so it does look a bit different than Windows or the online version. But it's the same thing. - With the online version, you will have a federal tab here on the left, and then you'll have income and expenses, and then business. You just won't have a separate business tab. - Okay, so I'm going to go back into the business. - Be sure to check out the earlier videos if you want to learn how we added this business. You can add as many businesses as you need using that button. We're gonna edit. - So, this is the business we added in the first video of this series, business coaching. - And I'm gonna scroll down. - This is the summary screen where we enter all income and expenses. - We've entered income, we entered...
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Video instructions and help with filling out and completing How Form 8655 Employed
