Question

We have 300 square feet for a home office. I have read that it should be $5 per square feet for a $1500 deduction but it is only giving me $75. What am I doing wrong?

Forum|Forum|3 years ago
April 15, 2023
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TurboTax Self Employed Online

The home office deduction using the simplified method of calculation can be up to $1500 based on a 300 square foot space. However, the deduction may be limited based on the income from your business.

You may need to revisit the questions where you answer how much of your time was spent in the home office versus other places to earn your business income. This affects the limitation calculation.

The income limitation for the home office is calculated on the Form 8829 Worksheet and then carries to Form 8829 itself.

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