IRS Form 8829 Expenses for Business Use of Your Home

What Is IRS Form 8829?

This is a tax form that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury on January 1, 2017. As of today, no separate filing guidelines for the form are provided by the IRS.

FAQ

Q: What is IRS Form 8829?
A: IRS Form 8829 is a form used to deduct expenses for the business use of your home.

Q: What are considered business expenses for the use of your home?
A: Business expenses for the use of your home include a portion of your rent or mortgage, utilities, insurance, and repairs.

Q: Can anyone deduct home office expenses?
A: No, home office expenses can only be deducted if you use part of your home regularly and exclusively as your principal place of business.

Q: Do I qualify for the home office deduction?
A: You may qualify for the home office deduction if you use part of your home regularly and exclusively as your principal place of business, or if you use a separate structure on your property for business purposes.

Q: What documents do I need to support my home office expenses?
A: You should keep records of your home office expenses, such as receipts, bills, and a record of the total square footage of your home and the portion used for business purposes.

Q: How do I calculate the deduction for my home office expenses?
A: To calculate the deduction for your home office expenses, you can either use the regular method, which involves tracking and allocating actual expenses, or the simplified method, which allows for a standard deduction based on square footage.