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Fixed Assets and UltraTax CS 2023 help is now on Help and Support. We're still moving articles, but you can find most content for the 2023 tax year there. Continue using the Help & How-To Center for tax years 2022 and older.

To calculate the home office deduction, perform the following steps.

1. Open the Asset List window for an activity.
2. Click the Add button to add a new asset, or highlight the desired asset and click the Modify button.
3. If adding a new asset, enter a description of the asset, an in-service date, and any additional information in the appropriate association fields.
4. In the Asset Detail dialog, click the Home Office tab.
5. Select the type of asset being used for business from the drop-down list for the Type of home office asset field.

   Note: If you select Home or Improvements, other fields in the dialog are available for data entry. If you select Land, you do not need to enter any additional information.

6. If you want to use the simplified option to calculate the allowable home office deduction, click Use simplified option and, in the Simplified Home Office dialog, mark the checkbox for the applicable home and click OK.
7. If you entered more than one home office for this client and you are adding improvements or land assets, mark the appropriate home office option (in the upper-right corner of the tab) to distinguish whether the asset belongs to home office #1 or #2.
8. Enter the remaining information as appropriate. To view a brief description of each field, see the Home Office tab overview.
9. Click Done to return to the Asset List window.

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