More U.S. taxpayers are earning income that allows them to deduct business expenses, often from home offices. To qualify for a home-office deduction, specific rules must be met. This course covers qualifications, expense methods, daycare facility rules, recordkeeping, and relevant tax forms for home-office deductions.

Learning Objectives

• Identify the home-office deduction qualification rules
• Detect the types of home office use to which the exclusive use requirement does not apply
• Identify the various types of taxpayer expenses that may be used to support a deduction for business use of a home
• Identify the rules applicable to the simplified method of figuring the home-office deduction
• Identify the tax forms on which a home-office deduction should be taken to recognize the recordkeeping requirements applicable to documents supporting a taxpayers home-office deduction