Home Office Deduction: What are the Rules?
2019 – 12/30 The start of the new year ushers in tax season. If you used your home to conduct business, you may qualify to take a home office deduction on your tax return, even if you’re a renter. Here are the basic rules: The home must be your principal place of business, or a place to meet clients in the course of business. If the office is in a separate structure, such as a detached garage, it will only qualify if you used it regularly and exclusively for business. Deductible expenses include mortgage interest, insurance and utilities, repairs, maintenance, depreciation and rent. You currently can’t claim a deduction if you’re an employee. Here are more details from the IRS: http://bit.ly/2MbhU3z