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Filling Out the 8829 Form Line 1: First, enter the square footage of your home office that you use exclusively for business purposes. Line 2: Then enter your homes total square footage. Line 3: Divide Line 1 by Line 2 and multiply by 100 to find the percentage of your home that you consider to be your home office.
IRS Form 8829 is used to claim expenses for the business use of your home. To qualify for the deduction, the area you use for work in your home usually has to be your principal place of business, and you can only deduct expenses for the portions of your home that are exclusively used for business.
The simplified method allows a standard deduction of $5 per square foot of home used for business, with a maximum of 300 square feet. Allowable home-related itemized deductions, such as mortgage interest and real estate taxes, are claimed in full on Schedule A.
When calculating the business use of home by simplified method, you will multiply the total home office space (up to 300 square feet) by the rate per square foot ($5) for the current tax year.
Use Form 8829 to figure the allowable expenses for business use of your home on Schedule C (Form 1040) and any carryover to next year of amounts not deductible this year.
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People also ask

The simplified method allows you to figure the tax-free part of each annuity payment. If you made some after-tax contributions, divide your cost by the total number of monthly payments youre anticipating. For an annuity not payable for life, is the number of monthly annuity payments under the contract.
If you use the Simplified Method, you can do so within your account by clicking the link beside box 2 on your 1099-R entry screen. The Simplified Method Worksheet can be found in Form 1040/1040-SR Instructions if you prefer to do it by hand.
The IRS offers a simplified home office deduction for those who prefer a simplified approach. Instead of calculating actual expenses, you can use a standard deduction based on the square footage of your home office. As of the last update in 2022, the rate is $5 per square foot, up to a maximum of 300 square feet.

schedule c simplified method worksheet