Question

What are the upper and lower limits for percentage of home used for business? Form 8829

Forum|Forum|7 years ago
June 6, 2019
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TurboTax Self Employed Online

Employee

There really is no restriction on this, if you are using the percentage method. To get credit, the space must be used exclusively for business and no other activity can take place in that space. However, you are using the simplified square footage method of deducting the home office, your maximum the IRS will allow is 300 sq. ft. This is where the IRS gives $5 for each sq. ft. for a maximum deduction of $1,500. For more information on home office deduction please see;

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