I worked as an independent contractor for a group practice of Therapists in LA while I lived in Brooklyn, NY. I worked from home and am looking for a list of possible deduction ideas and calculations. Can I deduct a portion of my rent? If so how much? Can I deduct the computer I purchased for work? Ect. THANK YOU!
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As an independent contractor, you are not considered an employee. This means that your income and expenses are reported on Schedule C Business Income and Expenses. Depending on the nature of the work you performed, your expenses can vary.
One possible expense would be a home office. The space used as your home office must be used exclusively for business and used regularly for business. Equipment such as your computer may be eligible as an expense, depending on whether it is used for other purposes or just work.
Take a look at the following TurboTax articles to learn more and see some examples of possible expenses that you may be able to claim:
What self-employed expenses can I deduct?
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