Deductible Amount
$2.40K
Business Use
10.0%
Your 200 sq ft office represents 10.0% of your 2000 sq ft home, making $2,400 of your $24,000 annual home expenses deductible.
The IRS offers two methods for calculating your home office deduction. The Regular Method uses your actual home expenses multiplied by the business use percentage. The Simplified Method allows $5 per square foot, up to a maximum of 300 sq ft ($1,500).
Your deduction is limited to your gross business income. To qualify, your home office must be used regularly and exclusively for business purposes.
Deductible Amount
$2.40K
Business Use
10.0%
Your 200 sq ft office represents 10.0% of your 2000 sq ft home, making $2,400 of your $24,000 annual home expenses deductible.
The IRS offers two methods for calculating your home office deduction. The Regular Method uses your actual home expenses multiplied by the business use percentage. The Simplified Method allows $5 per square foot, up to a maximum of 300 sq ft ($1,500).
Your deduction is limited to your gross business income. To qualify, your home office must be used regularly and exclusively for business purposes.
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