Property Type

Property Type includes: Tangible Property such as buildings, machinery, vehicles, furniture, and equipment; and Intangible Property such as patents, copyrights, computer software, and goodwill. Section 179 Property Sections 179 property is property that you acquire by purchase for use in the active conduct of your trade or business, and is one of the following: tangible personal [...]

Farm Expense Property Details

Do not deduct the following: Personal or living expenses (such as taxes, insurance, or repairs on your home) that do not produce farm income. Expenses of raising anything you or your family used. The value of animals you raised that died. Inventory losses. Personal losses. If you were repaid for any part of an expense, you must subtract the amount you were repaid [...]

Form 8829-Daycare Facilities

Daycare Facilities If you use space in your home on a regular basis in the or business of providing daycare, you may be able to deduct the business expenses even though you use the same space for nonbusiness purposes. To qualify for this exception, you must have applied for (and not have been rejected), been granted (and still have in effect), or be exempt from having a license, certification, [...]

Form 8829 Indirect Expenses

Indirect expenses are those expenses which you normally incur in your home but a portion is charged to the business use of your home. (That is, expenses allowable only because your home is used for business and otherwise would not be deductible.). If you did not operate a business for the entire year, you can deduct only the portion of the expense paid or incurred for the time you used your home [...]

Form 8829 Direct Expenses

Direct Expenses Enter as direct or indirect expenses only expenses for the business use of your home (that is, expenses allowable only because your home is used for business). If you did not operate a business for the entire year, you can deduct only the expenses paid or incurred for the portion of the year you used your home for business. Other expenses not allocable to the business use of your [...]