New IRS "simple" method for deducting a home office

According to the current issue of the Costco Connection (their member magazine), the IRS has a new way to do an at home office deduction that does not incur depreciation when you sell your home. I am not sure if non members can access the magazine online through Costco.com but there is a chart outlining the changes.

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DanceMom Wrote:
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> I haven't looked at this, but as far as I know,
> nothing to do with the IRS is simple. smiling smiley


Ha, ha, ha. I am laughing instead of taking the hours it will take to redo my last years taxes to recoup some issues that were missed.
But seriously, even though it might be difficult to qualify, if you do qualify for a home office, they have simplified the issues. You can now take a $ amount per square foot of your office and not depreciate rather than take a percent of your whole house. That sounds like it will help people with small spaces in larger houses.
I love the new procedure and it will be useful to those who actually have an exclusive home office. It can reduce taxable income by up to $1,500 a year, or $5.00 per square foot up to 300 square feet.

Mary Davis Nowell. Based close to Fort Worth. Shopping Interstate 20 east and west, Interstate 35 north and south.
As simple as enrolling in Obamacare, maybe?

DanceMom Wrote:
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> I haven't looked at this, but as far as I know,
> nothing to do with the IRS is simple. smiling smiley
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