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Daycare and Taxes>$2500 Rule
Teach54 04:05 PM 02-13-2016
I'm working on my 1st year as a provider taxes!!! Using Tom's books I think I'm doing ok. My question I did some remodeling < $2500 on my exclusive use room. I don't know where- which form to take this deduction. Thanks for any help.
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TomCopeland 07:03 AM 02-14-2016
Originally Posted by Teach54:
I'm working on my 1st year as a provider taxes!!! Using Tom's books I think I'm doing ok. My question I did some remodeling < $2500 on my exclusive use room. I don't know where- which form to take this deduction. Thanks for any help.
Deduct on line 27a on Schedule C. Be sure to attach a statement saying you are electing this rule.
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Teach54 09:54 AM 02-14-2016
Thanks so much Tom, I know I couldn't have figured all of this out without you and your books. A gold-mine of info.
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Tags:$2500 rule, taxes
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