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Level 2
March 17, 2020
Question

Can I deduct my rent payments since I have a home office?

  • March 17, 2020
  • 1 reply
  • 8 views
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    1 reply

    jgood12Author
    Level 2
    March 17, 2020

    I conduct my business (an LLC) from home

    Level 11
    March 17, 2020

    It depends.  If you are self-employed (it is your LLC), have a home office and it is your principal place of business, used exclusively for your business, a portion of your rent would be deductible.  

     

    If you are an employee (you receive a W2) you can no longer take unreimbursed employee expenses as a deduction, effective with the Tax Cuts and Jobs Act of 2017.

     

    Here is a link that will give you additional details:  Home Office Deductions for Rent, Etc

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