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For the expenses do I take a percent of the total expense based on the % of the office space squ footage/total squ footage of the home? The expense on the form have the same amount for both the total home and the office space. 84/1800=5% of the home. DO I take 5% of the expense to write off?
Hello,
Yes you understand the deductions to be taken for home office correctly. However, there is an alternative method called Simplified Option for Office in Home Deduction. You can read more about it here : https://www.irs.gov/businesses/small-businesses-self-employed/simplified-option-for-home-office-dedu...
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