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Lev, Tax Advisor
Category: Tax
Satisfied Customers: 29794
Experience:  Taxes, Immigration, Labor Relations
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If my wife used the entire mortgage interest tax deductions,

Customer Question

If my wife used the entire mortgage interest for her tax deductions, can I use the same for purposes of calculating my expenses for my home business?
Submitted: 1 year ago.
Category: Tax
Expert:  Lev replied 1 year ago.
You may not deduct the same expense twice...
Expert:  Lev replied 1 year ago.
If you use a portion of your home for business - you will need to apportion the mortgage interest for business and personal use - you will prorate according to sq footage.The deduct business portion on schedule C and personal portion on schedule A..I appreciate if you take a moment to rate the answer.Experts are ONLY credited when answers are rated positively.If you still have any doubts, need clarification - please be sure to ask.I am here to help you with all tax related issues.