Tracking Expenses

[morgan24]

This year I had an egress window put in my basement and I have moved everything down there. I still use my upstairs every morning but only for 1/2 hour to 45 minutes. I also take my dishes upstairs and wash them at the end of the day. They still use the bathroom and kleenex when were up there.Can I still deduct that as a shared expense? I been keeping everything I use downstairs as a 100% expense but I wasn't sure about the upstairs.

[TomCopeland]

Originally Posted by morgan24

This year I had an egress window put in my basement and I have moved everything down there. I still use my upstairs every morning but only for 1/2 hour to 45 minutes. I also take my dishes upstairs and wash them at the end of the day. They still use the bathroom and kleenex when were up there.Can I still deduct that as a shared expense? I been keeping everything I use downstairs as a 100% expense but I wasn't sure about the upstairs.

If the room where the egress window is used 100% for your business, you can deduct 100% of the expense and treat it as a repair. New IRS rules have expanded the definition of repairs. Replacing less than half your windows can be deducted in one year as a repair. If you use the egress window room for personal purposes, then deduct the time-space % of the cost in one year.

If you use a room 2-3 times a week for some business purpose (washing dishes) you can count the room as regularly used for your business when calculating your time-space %.