Who is taking a home office deduction? What kind of amounts? If you decided not to- why not?

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I personally do not. I use exactly the same space for personal computer and desk use and the value of the deduction is small compared to dealing with any audit.

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Same as Partner 1. I quantified the benefit which was maybe $300.

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I’m surprised nobody is using a safe harbor deduction of $5 up to $1,500 on 300 sq feet. Will not count against home depreciation, etc. Yes it’s still an audit risk, but you have your records.

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I do , and take a percentage of the home office/whole house and deduct everything I can (utilities, depreciation, real estate taxes, interest, etc). If someone can take it, why wouldn’t they?

Once things opened up here in Ca I rented an office outside of my home. I’m taking all costs associated, including the paper clips!

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I can only speak from personal experience but I’ve never had a client go under audit for a home office deduction. The deduction is available and people should take full advantage just like any other deduction. This being said we had a client this year whole tired to take 100% of his New York apartment has home office and we wouldn’t sign the return. Also if your company already has an office...not sure you could also take a home office deduction.

I have had clients audited on home office deductions. In two cases, IRS agents visited the home and inspected the office space. Results were not favorable to the taxpayers. In both cases the homes were very expensive homes and IRS agents were outside their element.
I do not take home office deduction as the tax savings are not worth the audit risk to me.

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