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Updated about 9 years ago on . Most recent reply
Home Office Deduction
Hi all!
I had a pointed question related to the home office deduction. I am a real estate agent (licensed in May), an attorney with a full-time job separate from my real estate business, and an investor with several properties and am the property manager for those properties.
I believe I would qualify for the home-office deduction since I perform most of my real estate business at my house (writing contracts, making appointments, pretty much everything except for showing properties). So in that sense, I am pretty confident I would qualify. However, I also have a full-time job (40 hours a week) as an attorney 20 minutes from my house that I am claiming as a home office deduction. Do you all see any problems here? I can seek out advice from a CPA, which I plan on doing so in February, but I want to know if this is something I should start preparing for the CPA and all the expenses related to it. I also conduct a lot of my property management for my properties administrative work at home for what it is worth.
One separate question, if I do have it as a home office deduction, can I claim all miles from there to the properties I show, etc., and back as deductible miles?
THANKS!
-Matt