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Submitted By: someone
Answered: November 28, 2022 9:29 pm
Answered: November 28, 2022 9:29 pm
Are full-time telecommuter employees able to take a home office deduction?
Unfortunately, employees cannot deduct home office expenses because of the suspension of the deduction for miscellaneous itemized deductions subject to the 2%-of-adjusted-gross-income floor through 2025. Only self-employed individuals may claim a home office deduction if they otherwise qualify to do so.
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Tax Glossary
Adjusted basis
A statutory term describing the cost used to determine your profit or loss from a sale or exchange of property. It is generally your original cost, increased by capital improvements, and decreased by depreciation, depletion, and other capital write-offs.
