IRS Logo
Print - Click this link to Print this page

Home Office Deduction - YouTube video text script

 HERE’S A TIP FROM THE IRS. 

HI… I’M JULIANNE AND I WORK FOR THE INTERNAL REVENUE SERVICE.

WORK FROM HOME?

CONSIDER THE HOME OFFICE DEDUCTION.

IF YOU USE A PORTION OF YOUR HOME REGULARLY AND EXCLUSIVELY FOR BUSINESS...YOU MAY BE ABLE TO TAKE THE HOME OFFICE DEDUCTION.

NORMALLY...THE AMOUNT YOU CAN DEDUCT DEPENDS ON THE PERCENTAGE OF YOUR HOME USED FOR BUSINESS. 

BUT KEEP IN MIND...YOUR DEDUCTION MAY BE LIMITED IF YOUR BUSINESS IS LOSING MONEY OR YOUR BUSINESS PROFIT IS SMALL.

IF YOU ARE SELF-EMPLOYED…USE FORM 8829 TO FIGURE OUT WHAT YOUR HOME OFFICE DEDUCTION IS.

THEN REPORT THIS AMOUNT ON SCHEDULE C.

THAT'S THE FORM YOU USE TO SHOW YOUR BUSINESS INCOME AND EXPENSES.

IF YOU ARE AN EMPLOYEE...ADDITIONAL RULES APPLY.

GENERALLY...TAX PREPARATION SOFTWARE WILL WALK YOU THROUGH THESE RULES.

FOR MORE INFORMATION, GO TO W-W-W-DOT-I-R-S-DOT-GOV.

Page Last Reviewed or Updated: 25-Feb-2014