The Home Office Deduction for Real Estate Professionals

[Bette Hochberger]

If you're a real estate professional, the home office deduction can be valuable. Here's what you need to know:

1. Exclusive and Regular Use: The space must be used exclusively and regularly for business.
2. Principal Place of Business: The home office must be your principal place of business.
3. Calculating the Deduction: Choose between the simplified method (a flat rate per square foot) or the regular method (actual expenses).

How do you manage your home office deductions? Any tips to share? Comment with yours!