My house is 1760 sqft. My unfinished basement is 1800 sqft (including cold storage). I use 1300 sqft of the basement as my store. It is my full time job for many years. I allow walk-in traffic. It has its own walkway and entrance. I had heard in the past that unfinished can't be claimed since it's not "actual" square footage of the residence, but I recently read a comment that it could be claimed. It was just a comment, so I would like to know for sure either way. Thank you.
Yes. Your unfinished basement can be used as a home office if it is used regularly and exclusively for your business.
This is helpful thank you! If the unfinished basement does not contribute to square footage of the home, how does this impact your:
- percent of home used for home office (0/sq foot of house) for income tax
- percent of home used as part of business for property tax
Thank you!
Either include it in the square footage or opt for the simplified calculation.