Is it possible to limit the home office expenses even if they don't exceed the income against which they are applied, in order to deduct a higher amount the following year?No. According to the employment expenses guide, if you cannot deduct all home office expenses in the year, you may carry the excess forward to the next year. In other words, if you can deduct the home office expenses from the income, you must make that deduction. If a balance remains, you then have the option to carry it forward to the following year. June 21, 1999 |
