Form 8829 Expenses for Business Use of Your Home 2011

• Name(s) of proprietor(s) field contains John Stephens
• Your Social Security Number field contains 465-00-0001
• Under Part I: Part of Your Home Used for Business:
• • 1. Area used regularly and exclusively for business, regularly for daycare, or for storage of inventory or product samples (see instructions) field contains 200
  • 2. Total area of home field contains 2,000
  • 3. Divide line 1 by line 2. Enter the result as a percentage field contains 10%
  • 7. Business percentage. For daycare facilities not used exclusively for business, multiply line 6 by line 3 (enter the result as a percentage). All others, enter the amount from line 3 field contains 10%
• Under Part II: Figure Your Allowable Deduction:
• • 8. Enter the amount from Schedule C, line 29, plus any gain derived from the business use of your home and shown on Schedule D or Form 4797, minus any loss from the trade or business not derived from the business use of your home and shown on Schedule D or Form 4797. See instructions field contains 25,552
  • Note: See instructions for columns (a) and (b) before completing lines 9-21. Column (a): Direct expenses. Column (b): Indirect expenses.
  • 10b. Deductible mortgage interest (see instructions) field contains 4,500
  • 11b. Real estate taxes (see instructions) field contains 1,000
  • 12b. Add lines 9, 10, and 11 field contains 5,500
  • 13b. Multiply line 12, column (b) by line 7 field contains 550
  • 14. Add line 12, column (a) and line 13field contains 550
  • 15. Subtract line 14 from line 8. If zero or less, enter -0-field contains 25,002
  • 17b. Insurance field contains 400
  • 19a. Repairs and maintenance field contains 300
  • 19b. Repairs and maintenance field contains 1,400
  • 20b. Utilities field contains 1,800
  • 22a. Add lines 16 through 21 field contains 300
  • 22b. Add lines 16 through 21 field contains 3,600
  • 23. Multiply line 22, column (b) by line 7field contains 360
  • 24. Carryover of operating expenses from 2010 Form 8829, line 42 field contains 0
  • 25. Add line 22 in column (a), line 23, and line 24field contains 660
  • 26. Allowable operating expenses. Enter the smaller of line 15 or line 25 field contains 660
  • 27. Limit on excess casualty losses and depreciation. Subtract line 26 from line 15field contains 24,342
  • 29. Depreciation of your home from line 41 belowfield contains 271
  • 31. Add lines 28 through 30field contains 271
  • 32. Allowable excess casualty losses and depreciation. Enter the smaller of line 27 or line 31 field contains 271
  • 33. Add lines 14, 26, and 32field contains 1,481
  • 35. Allowable expenses for business use of your home. Subtract line 34 from line 33. Enter here and on Schedule C, line 30. If your home was used for more than one business, see instructions.field contains 1,481
• Under Part III: Depreciation of Your Home:
• • 36. Enter the smaller of your home's adjusted basis or its fair market value (see instructions) field contains 130,000
  • 37. Value of land included on line 36 field contains 20,000
  • 38. Basis of building. Subtract line 37 from line 36 field contains 110,000
  • 39. Business basis of building. Multiply line 38 by line 7 field contains 11,000
  • 40. Depreciation percentage (see instructions) field contains 2.461%
  • 41. Depreciation allowable (see instructions). Multiply line 39 by line 40. Enter here and on line 29 above.field contains 271

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