Safe harbor provides simplified option for claiming home office deduction

Charlene M. Ives, CPA, PC

Charlene M. Ives, CPA, PC

In a Revenue Procedure, (Rev Proc 2013-13) IRS has provided an optional safe harbor method that individuals can use to determine the amount of their deductible home office expenses, effective for tax years beginning on or after Jan. 1, 2013. The safe harbor amount is $5 per square foot of qualified use (up to 300 square feet). This method provides an alternative to the calculation, allocation, and substantiation of actual expenses required under Code Sec. 280A.

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