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Deducting Home Office Expenses
Deducting Home Office Expenses
Costs associated with maintaining a home office (for example, rent, utilities, insurance, repairs, and depreciation) may be deductible. If the office space is also used for personal reasons, the entire home office deduction is usually lost. However, expenses such as qualifying mortgage interest and property taxes are generally deductible regardless of whether a home office qualifies for other deductions.
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Costs associated with maintaining a home office (for example, rent, utilities, insurance, repairs, and depreciation) may be deductible. If the office space is also used for personal reasons, the entire home office deduction is usually lost. However, expenses such as qualifying mortgage interest and property taxes are generally deductible regardless of whether a home office qualifies for other deductions.
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