I am a sales consultant. I have a home office for work and my garage is full of the product I sell. I do not own but I rent? Can I claim a percentage of my rent since I am required to work at home and store product so I have a larger home.
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Yes, you claim the rent as part of your "home office" expenses. The amount deductible will be calculated automatically based on the numbers you enter for the home and business use areas.
There are two ways to deduct home office expenses. One is using Actual Expenses and the other is the Simplified method. Which one you use depends on the amount of your expenses and the size of your office space.
The Actual Expense method uses the business use percentage of your actual costs (utilities, mortgage interest/rent, insurance, etc.) based on the square footage of your home office compared to your total home. The Simplified method is $5/sq ft up to 300 sq ft of office space.
To take a deduction for your home office, you must regularly use a portion of your home exclusively for conducting business. Also, it must be your principal place of business. If you are an employee looking to take the home office deduction, you must also be using your home for the convenience of your employer, rather than for your own convenience.
This link may also be helpful:
Can I Take the Home Office Deduction?
https://ttlc.intuit.com/replies/3302005
For an employee:
https://ttlc.intuit.com/replies/4773243
If you are self-employed:
https://ttlc.intuit.com/replies/4773249
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