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Level 1
posted Mar 17, 2020 11:01:42 AM

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

0 2 600
2 Replies
Level 1
Mar 17, 2020 11:03:10 AM

I conduct my business (an LLC) from home

Intuit Alumni
Mar 17, 2020 11:20:42 AM

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