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I would take every allowable deduction based on that 18 week time period. 18 divided by 52 equals approximately 35%. So, that means you are allowed 35% of your utilities, mortgage interest, real estate taxes, depreciation, etc...Obviously, you must first determine the square footage ratio of the home office to the entire home. So if your home office is 250 sq ft and your home is 2500 sq ft, then only 10% of the total of the utilities, mortgage interest, real estate taxes, depreciation, etc...is deductible. Do not forget to further reduce that 10% amount by the time ratio mentioned above (35%).
I would take every allowable deduction based on that 18 week time period. 18 divided by 52 equals approximately 35%. So, that means you are allowed 35% of your utilities, mortgage interest, real estate taxes, depreciation, etc...Obviously, you must first determine the square footage ratio of the home office to the entire home. So if your home office is 250 sq ft and your home is 2500 sq ft, then only 10% of the total of the utilities, mortgage interest, real estate taxes, depreciation, etc...is deductible. Do not forget to further reduce that 10% amount by the time ratio mentioned above (35%).
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