Home Office Space Square Footage

With this method your home office space is a percentage of your home s total square footage. If your home office is a 15 ft by 15 ft room then its total square footage is 225 square feet 15 ft x 15 ft 225 square feet. Allowable square footage of home use for business not to exceed 300 square feet percentage of home used for business.

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The percentage determines how much of your total home expenses like rent utilities insurance can be deducted for your home office.

Home office space square footage. The irs allows you to make a simple calculation for small office spaces. Standard 5 per square foot used to determine home business deduction. Your home office space is 132 square feet 11 x 12 your total home square footage is 1 100. Find out the square footage of your home.

The percentage of office use is 120 square feet 1 200 square feet x 100 10. The maximum space is 300 square feet for a maximum deduction of 1 500. For our example. The second method looks at the square footage of the space used for business divided by the total square footage of the house.

As an example assume your home has 1 200 square feet and your office is a room that is 10 x 12 feet 120 square feet. Find the square footage of your home office space and multiply that by 5 a square foot. To do this you divide the square footage of your office space by the total square footage of the home. Most of your home expenses such as rent or real estate taxes and mortgage interest must be multiplied by the larger of these two fractions to determine the portion that s deductible as a home office.

Deduction for home office use of a portion of a residence allowed only if that portion is exclusively used on a regular basis for business purposes.