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R
roberthirt
March 28, 2020
Question

How do I determine the amount (if any) im able to expense of my monthly rent given that I also work from home and have a small "office space"?

  • March 28, 2020
  • 1 reply
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1 reply

KathrynG3
KathrynG3
March 28, 2020

It depends on what type of Home Office Deduction you are claiming. For the simplified method, then it is $5/square foot for the exclusively used office space. For the actual method, then it is a ratio of the office space to the whole square footage.

 

Click the link for the IRS explanation for Simplified Option for Home Office Deduction. It does not affect the depreciation of your home and is $5/sq. ft up to $1,500.

 

Click the link for the directions to Enter the Home Office Deduction which will review entering the actual expenses.

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