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Old 01-10-2011, 02:35 PM
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llove530 llove530 is offline Member
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Default Utilities Expenses for Tom Copeland


Do I also need to figure out my Time/Space % before entering my all utilities into Turbo Tax? I think I did it wrong last year on my 2009 taxes by entering in the total amount thinking Turbo Tax did the math - ugh!!
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Old 01-11-2011, 10:28 AM
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TomCopeland TomCopeland is online now
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Default Utilities on turbo tax

Since utilities are an expense that appears on Form 8829 Turbo Tax should have multiplied it by your time-space percentage that is calculated elsewhere. So, I don't think you have to worry. It's when providers deduct shared expenses on Schedule C (toys, supplies, repairs, etc.) that the software doesn't apply the time-space percentage.
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