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Can you no longer deduct the applicable portion of mortgage interest as a home office expense if you can no longer itemize deductions
If you're not itemizing deductions, uncheck the "Yes, include for this home office deduction" box below.
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Can you no longer deduct the applicable portion of mortgage interest as a home office expense if you can no longer itemize deductions
Yes, you can still take deduct a portion of your mortgage interest as part of your home office expense.
Uncheck the box and click "Done". Click "Continue" on the next screen then, on the following screen, click "Yes, XXXXX has expenses that apply only to the home office (this is not common)" and "Continue". Then click "Continue" again. This will take you to the screen where you can enter the mortgage interest and other expenses allocated to the home office use based on the home office square footage percentage.
Please note that if you are self-employed and claiming this home office expense, these home office business expenses reduce self-employment income, which, in turn, determines how much you owe in self-employment taxes. So claiming the home mortgage interest/property taxes related to your home office as a self-employment business expense may reduce your overall tax liability.
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