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Business & farm
With regard to claiming either rent costs or mortgage interest for a qualified home office, the major difference is that when you own your home you will be expected to also claim depreciation on the qualified home office unless you use the simplified method for home office expenses.
If you are renting your home, then the portion of the rent attributed to the office in the home is just a straightforward calculation based on the square feet of the office. There is no depreciation to consider when you are renting.
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‎April 16, 2022
5:22 AM