Solved: Why is a 2018 Home Office Deduction only $286 for 200 square feet when it was $1000 for 2017?
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Why is a 2018 Home Office Deduction only $286 for 200 square feet when it was $1000 for 2017?

 
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Level 15

Why is a 2018 Home Office Deduction only $286 for 200 square feet when it was $1000 for 2017?

Are you using the simplified method or the exact expense method?  The simplified method (safe harbor method) is $5 per square foot.  The exact expense method is whatever it work out to be.  Also, you can't use the home office deduction to show a loss on your business.  If your net income after deducting all other expenses is only $286, then that's the maximum home office deduction you can take this year.

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*

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1 Reply
Level 15

Why is a 2018 Home Office Deduction only $286 for 200 square feet when it was $1000 for 2017?

Are you using the simplified method or the exact expense method?  The simplified method (safe harbor method) is $5 per square foot.  The exact expense method is whatever it work out to be.  Also, you can't use the home office deduction to show a loss on your business.  If your net income after deducting all other expenses is only $286, then that's the maximum home office deduction you can take this year.

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*

View solution in original post

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