Home office expenses that exceed the income from the related business may be carried forward to offset future income.

Name: Home office expenses that exceed the income from the related business may be carried forward to offset future income.
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Question

Quizplus · Accepted Answer

The IRS allows individuals to carry forward unused home office expenses to future years, where they can be used to offset future income from the same business, ensuring that taxpayers can eventually benefit from all allowable deductions.

Home Office Expenses That Exceed the Income from the Related