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the standard deduction, it might be worth it to you because yes, if you work from your home, you can deduct a percentage of how much space you use for this home office. For example, if your home office is 100 square feet (or your bedroom that you use as an office) and your home is 2000 square feet, then you can deduct that 5% of your home is office, 5% of your property tax, 5% of your garbage removal costs, 5% of your electricity bill and so on.
HOWEVER if your standard deduction is more than the stardardized (which is what happened to me) then you can calculate all you want but you'll only LOSE MONEY if you try to deduct home office costs.
I use Turbo Tax and found it was a $11000+ standard deduction, $10000 home office deduction, so sometimes it's not worth the effort.
Wish I could've tho! |
Here's the deal. IF you can itemize more than - anMT
