Deductions & credits

Are you using the simplified method or the exact expense method?  The simplified method (safe harbor method) is $5 per square foot.  The exact expense method is whatever it work out to be.  Also, you can't use the home office deduction to show a loss on your business.  If your net income after deducting all other expenses is only $286, then that's the maximum home office deduction you can take this year.

View solution in original post