I have to admit I am not a friend of the home office. The thought of depreciating my home, only to recapture the deprecation as ordinary income when I sell it was never a warm fuzzy thought.
Granted the IRS safe harbor of up to $1,500 is not a lot. But as I sit here typing in my den, I am fine with not depreciating the house.
I have had conversations/arguments with other professionals who were taking all of their home expenses, even though they knew they shouldn’t. but alas I had no proof only hearsay…
I have a trucker who was hinting I should deduct his mortgage payments on his business return. I got him straighten out.
Look into the safe harbor deduction instead of the percentage of the home moving forward.