I'm not getting a benefit after adding the Home Office, I have tried the Simplied and the Itemized but both yield $0 refund. The Federal refund is the same whether I enter the Home Office or not.
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If you are taking a home office deduction as an employee, you will only see a change in your refund if your total job expenses exceed 2% of your AGI. Job expenses are deductible for the amount that exceeds 2% of your AGI. You will also need to have total itemized expenses that exceed your standard deduction in order to benefit from itemizing your deductions. The Standard Deductions are as follows based on your filing status:
If you are taking a home office deduction as a sole proprietor, the most common reason you would not see an increase in your refund is that your taxable income is already at $0. Taxable income cannot be lower than $0.
If you are taking a home office deduction as an employee, you will only see a change in your refund if your total job expenses exceed 2% of your AGI. Job expenses are deductible for the amount that exceeds 2% of your AGI. You will also need to have total itemized expenses that exceed your standard deduction in order to benefit from itemizing your deductions. The Standard Deductions are as follows based on your filing status:
If you are taking a home office deduction as a sole proprietor, the most common reason you would not see an increase in your refund is that your taxable income is already at $0. Taxable income cannot be lower than $0.
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