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If I rent a apartment ,000 a year and run a business from

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Hi if I rent a...
Hi if I rent a apartment for 100,000 a year and run a business from there with business phone can I right part of the rent off on taxes
Submitted: 2 years ago.Category: Tax
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8/7/2015
Tax Professional: Robin D., Senior Tax Advisor 4 replied 2 years ago
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15,880
Experience: 15years with H & R Block. Divisional leader, Instructor
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Hello,

Business use of home is an allowable deduction. Your home does not have to be owned.

Deductible expenses for business use of your home include the business portion of real estate taxes, mortgage interest, rent, casualty losses, utilities, insurance, depreciation, maintenance, and repairs. You may not deduct expenses for lawn care in general or for painting a room not used for business.

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Tax Professional: Robin D., Senior Tax Advisor 4 replied 2 years ago

Self-employed taxpayers filing Form 1040, Schedule C (PDF), Profit or Loss From Business (Sole Proprietorship) first compute this deduction on Form 8829 (PDF), Expenses for Business Use of Your Home.

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Tax Professional: Robin D., Senior Tax Advisor 4 replied 2 years ago

I hope the above is helpful

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Customer reply replied 2 years ago
Call me XXXXXXXXXX
Tax Professional: Robin D., Senior Tax Advisor 4 replied 2 years ago

You should not post your phone number. It is not protected.

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Tax Professional: Robin D., Senior Tax Advisor 4 replied 2 years ago

Did you need more information?

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Tax Professional: Robin D., Senior Tax Advisor 4 replied 2 years ago

Please let me know if you need clarification.

Your question was
"if I rent a apartment for 100,000 a year and run a business from there with business phone can I right part of the rent off on taxes"

The answer is yes. How much will depend on the total sq footage of your home and the sq footage you use for business.

If my answer addressed your question please rate below or above (let me know if you have difficulty as I believe the system changed), if you need more information reply below.

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Robin D.
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