Discussion:Office in home

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Lucy (talk|edits) said:

23 December 2005
office in home loss carryforward

hi all just in time for the holidays i have a question--in the case of a previous year office in home carryforward, is it necessary to include the maximum amount allowable under the tax code the subsequent year, or can one carry forward again more than just the minimum? i've never seen anything in the tax code limiting how long one can carry forward these expenses as well.

thanks

Plounibos (talk|edits) said:

28 December 2005
The instructions for Form 8829, Part IV, state: "If your expenses are greater than the current year's limit, you can carry over the excess to 2006. The carryover will be subject to the deduction limit for that year, whether or not you live in the same home during that year". IRS Topic 509 says essentially the same thing.

Neither publication addresses the "useful life" of this carryover.

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