Std Deduction - Office In Home R.E Taxes and Mortgage Interest - Spidell

Std Deduction – Office In Home R.E Taxes and Mortgage Interest

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Message Board Std Deduction – Office In Home R.E Taxes and Mortgage Interest

This topic contains 2 replies, has 2 voices, and was last updated by Herbert Mosberg 3 months ago.

  • Author
    Posts
  • #176255
    Herbert Mosberg
    Participant

    Are you allowed to deduct real estate taxes and home mortgage interest on Form 8829 even though you claim the standard deduction on Sch A?

  • #176306
    Lynn Freer
    Participant

    My gut feeling is no because the regs under 151-3 state: ) Educational institution. For purposes of sections 151(e) and 152, and the regulations thereunder, the term “educational institution” means a school maintaining a regular faculty and established curriculum, and having an organized body of students in attendance. It includes primary and secondary schools, colleges, universities, normal schools, technical schools, mechanical schools, and similar institutions, but does not include non-educational institutions, on-the-job training, correspondence schools, night schools, and so forth.

    Educational institution. For purposes of sections 151(e) and 152, and the regulations thereunder, the term “educational institution” means a school maintaining a regular faculty and established curriculum, and having an organized body of students in attendance. It includes primary and secondary schools, colleges, universities, normal schools, technical schools, mechanical schools, and similar institutions, but does not include non-educational institutions, on-the-job training, correspondence schools, night schools, and so forth.

    But if they are enrolled and supervised by the school, it might qualify.

  • #176307
    Herbert Mosberg
    Participant

    My question was regarding office-in-home expenses associated with sch C. Form 8829 inst. moves these expenses to “EXCESS”. I am confused if the expenses are still allowed.