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The short version is that if you are a w 2 employee you are no longer able to benefit from the home office deduction even if you work from home full time.
Irs home office deduction employee. Simplified option for taxable years starting on or after january 1 2013 filed beginning in 2014 you now have a simplified option for computing the home office deduction irs revenue procedure 2013 13 january 15 2013. Currently you need to have. If you use part of your home exclusively and regularly for conducting business you may be able to deduct expenses such as mortgage interest insurance utilities repairs and depreciation for that area. The home office deduction is available for homeowners and renters and applies to all types of homes.
Employees are not eligible to claim the home office deduction. You need to figure out the percentage of your home devoted to your business activities utilities repairs and depreciation. Here are some things to help taxpayers understand the home office deduction and whether they can claim it. An employee s home office is deemed to be for an employer s convenience only if it is.
Employees may only take the home office deduction if they maintain the home office for the convenience of their employer. The easiest way to calculate your home office tax deduction is called the simplified method the irs allows taxpayers to deduct 5 per square foot up to 300 square feet of home used in carrying.
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