Originally Posted by Boymom:
Hello!
Turbo Tax is taking the time/space % off of the daycare income I received last year. It didn't do this last year. Is this a new thing? I couldn't figure out what was going on at first, but then I clicked on forms and there's a form called 8829 Worksheet that TT automatically filled out that's different from the regular 8829 worksheet. It's section 2 on the 8829 worksheet and it says "Calculation of business income limit when part of gross income is from a place of business other than this home office." I only used my home for the daycare. I can't figure out what I did wrong! Line 1 shows my gross income and then line 2 shows my time/space % and it's taking it off my gross income.
Thanks!
Here's part of an article I wrote about TurboTax:
"The next screen is entitled “Business conducted in home office” and directs you to “Enter the percentage of time you spend conducting business in the home office.” You should enter 100% here. What they are not asking is how many hours you spend on business activities in your home (your Time Percent), but rather how much of your business is conducted in your home, versus somewhere else." So, you should have entered 100%. That should fix the problem.