Tax Law (Questions About Taxes)/Form 8829

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Question
QUESTION: Hi John.  

John on line 11 of form 8829, Business expenses for use of home, do I list the full amount that we paid in property tax for the year ( $3900),then multiply it by the business % from line 7
(10%)on Line 13? Or do I list $390 on line 11 because my designated office is 10% of the house, then multioply that by 10% again for line 13?

Thank You. Richard

ANSWER: Richard,

Thanks for your question.

List the full amount, then multiply it by 10% on line 13.

Hope this helps.

John Stancil, CPA

---------- FOLLOW-UP ----------

QUESTION: Hi John,

It looks like I should redo my last year's taxes with the correct figures. Would I have to provide the IRS with anything other than the 1040x,corrected schedule C, corrected 8829 and corrected 1040sse? Do you accept clients from this site? What would your charges be for redoing my 2011 taxes with the correct information?

Answer
Richard,

When filing a 1040X you would provide copies of any form that changed.  It would include the ones you mention, but could also include Schedule A if your AGI changed and you had deductible medical or miscellaneous itemized deductions. I don't know how complex your return is, but it could conceivably affect other forms in which the deduction or credit is phased out due to income level and your income level changed, affecting that deduction or credit.

I do accept clients. My charge for a 1040-X that only affected the documents you mention would be $175.  If it got more complex, there could be additional charges.  You can go to www.johnstancilcpa.com for my contact information.

Thanks.

John Stancil, CPA

Tax Law (Questions About Taxes)

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John Stancil, CPA

Expertise

I can answer questions on personal income taxes, partnerships, and some corporate income taxes. I can deal with some state tax questions. Limited gift and estate tax questions. I am also familiar with ministerial and church tax reporting issues. I am Professor Emeritus at Florida Southern College. Sales taxes and property taxes are state and local issues so I am not likely be be able to give you an in depth answer on those types of taxes. I have maintained a CPA practice, specializing in tax, for over 35 years. I am a member of the National Association of Tax Professionals, The Florida Insititute of CPA's, The NCPE Fellowship. In addition I am a Certified Mentor for SCORE. Visit my website at www.mybaldcpa.com. I also offer seminars and consultations to churches and clergy on their tax issues at www.churchtaxsolutions.com Also visit my blog, www.thetaxdocspot.com. I am listed on Tax Connections at https://www.taxconnections.com/profile/John-Stancil/12258973 Prepare and file your own taxes at www.1040stancilcpa.com

Experience

I hold a doctorate in Accounting, and am a CPA. My certifications of CIA, CFM, and CMA are inactive. I passed all certification examinations on the first attempt, and received honorable mention for my scores on the CIA exam. I have operated a CPA firm for over 37 years and have taught accounting and tax at the college level for over 35 years.

Organizations
FICPA, NATP, NCPE Fellowship, Lakeland Business Leaders

Publications
The CPA Journal, Florida CPA Today, Green Consumer, Green Business, Global Sustainability as a Business Imperative, Palmetto Review, NATP TaxPro Quarterly, Mustang Journal of Finance and Accounting.

Education/Credentials
DBA University of Memphis MBA University of Georgia BS in Accounting Mars Hill University

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