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Updated almost 5 years ago on . Most recent reply
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tax treatment of office space
Here's a question that must be a no-brainer to others, but I'm drawing a blank and thought I'd put it out to the BP community. How do you handle tax reporting for an office space? That is, how do I handle the taxes if I owned a small, commercial office space from which to "run my operations." I could store some supplies maybe, etc... What if I had some space and I rented out a room or something? For the former, would I just include it on SchC? For the latter, would it be both SchC and SchE, or perhaps just SchE?
Your thoughts and/or expert opinion would be appreciated.