Instructions For Form 8829 - Expenses For Business Use Of Your Home - 2012 Page 3
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4Schedule A (Form 1040) instructions. However, when figuring
Attach your own schedule showing the cost or other basis of
your adjusted gross income (Form 1040, line 38) for this
additions and improvements, used at least partially for business,
purpose, exclude the gross income from business use of your
that were placed in service after you began to use your home for
home and the deductions attributable to that income. Include on
business. Do not include any amounts on lines 36 through 39 for
Form 8829, line 10, the amount from Schedule A, line 13. See
these expenditures. Instead, see the instructions for line 41.
the instructions for line 16, later, to deduct part of the qualified
Line 40
mortgage insurance premiums not allowed because of the
adjusted gross income limit. Do not file or use that Schedule A to
figure the amount to deduct on line 13 of that schedule. Instead,
IF you first used your home for
THEN enter the following
complete a separate Schedule A to deduct the personal portion
business in the following month in
percentage on line 40*...
of your qualified mortgage insurance premiums.
2012...
If you itemize your deductions, be sure to claim only the
January
2.461%
personal portion of your deductible mortgage interest, qualified
February
2.247%
mortgage insurance premiums, and real estate taxes on
Schedule A. For example, if your business percentage on line 7
March
2.033%
is 30%, you can claim 70% of your deductible mortgage interest,
April
1.819%
qualified mortgage insurance premiums, and real estate taxes
May
1.605%
on Schedule A.
June
1.391%
Line 16
July
1.177%
If the amount of home mortgage interest or qualified mortgage
August
0.963%
insurance premiums you deduct on Schedule A is limited, enter
the part of the excess that qualifies as a direct or indirect
September
0.749%
expense. Do not include mortgage interest on a loan that did not
October
0.535%
benefit your home (explained earlier).
November
0.321%
Line 18
December
0.107%
If you rent rather than own your home, include the rent you paid
*Exception. If the business part of your home is qualified Indian reservation property
on line 18, column (b). If your housing is provided free of charge
(as defined in section 168(j)(4)), see Pub. 946, How To Depreciate Property, to figure
and the value of the housing is tax exempt, you cannot deduct
the depreciation.
the rental value of any portion of the housing.
Line 21
IF you first used your home for
THEN the percentage to enter on
Include on this line any 2012 operating expenses not included
business...
line 40 is...
on lines 9 through 20.
after May 12, 1993, and before 2012
2.564%.*
Line 28
(except as noted below),
Multiply your casualty losses in excess of the amount on line 9
after May 12, 1993, and before 1994,
the percentage given in
by the business percentage of those losses and enter the result.
and you either started construction or
Pub. 946.
had a binding contract to buy or build
Line 34
that home before May 13, 1993,
Also, enter this amount on Form 4684, line 27, and enter "See
after May 12, 1993, and you stopped
the percentage given in
using your home for business before
Pub. 946 as adjusted by the
Form 8829" above line 27.
the end of the year,
instructions under Sale or Other
Line 35
Disposition Before the Recovery
Period Ends in that publication.
If your home was used in more than one business, allocate the
after 1986 and before May 13, 1993,
the percentage given in
amount shown on line 35 to each business using any method
Pub. 946.
that is reasonable under the circumstances. For each business,
enter on Schedule C, line 30, only the amount allocated to that
before 1987,
the percentage given in
Pub. 534, Depreciating Property
business.
Placed in Service Before 1987.
Part III
*Exception. If the business part of your home is qualified Indian reservation property
(as defined in section 168(j)(4)), see Pub. 946 to figure the depreciation.
Lines 36 Through 38
Enter on line 36 the cost or other basis of your home (including
Line 41
land), or, if less, the fair market value of your home on the date
If no additions and improvements were placed in service after
you first used the home for business. Do not adjust this amount
for depreciation claimed or changes in fair market value after the
you began using your home for business, multiply line 39 by the
year you first used your home for business.
percentage on line 40. Enter the result on lines 41 and 29.
Enter on line 37 the cost or other basis of the land on which
your home sits, or, if less, the fair market value of the land on the
date you first used the home for business. Do not adjust this
amount for changes in fair market value after the year you first
used your home for business.
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