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The way the deduction is calculated is by taking $5 per square foot of your home office up to 300 square feet, for a $1,500 maximum deduction. To qualify for this deduction, you have to be self ...
There's a lot of confusion around the home office deduction because many remote workers who took the break in the past are no longer eligible -- the Tax Cuts and Jobs Act eliminated the home ...
The Tax Cuts and Jobs Act of 2017 suspended the deduction for miscellaneous unreimbursed employee business expenses, which allowed you to claim a home office if you worked from home for the ...
The number of people who work from home exploded in 2020 because of the COVID-19 pandemic. Some people will be able to take a tax deduction for their home office expenses, but many will not.
The COVID-19 pandemic forced many employees to work from home in 2020, but not everyone can deduct their home office on their taxes.
First off, the home office deduction is available to self-employed taxpayers, independent contractors and those working in the gig economy, according to the Internal Revenue Service (IRS).
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