I've converted an old bedroom in the house,into an office/computer room.Although it isn't used exclusively for work,I do use it as an office,and I was wondering about writing it off on my taxes.
For those who've used this deduction,how is it calculated,by % of total house square footage?Do you write off a % of the heating bill,and electrical also?
If your claiming X% of your morgage as a business expense,what happens if the house is sold?Do you then have to claim X% of the house sale price as capital gains in your business?
I want to claim as much as I can,but don't want to throw up any flags for the IRS,or make it messy if I decide to eventually sell.
Thanks for all input.
For those who've used this deduction,how is it calculated,by % of total house square footage?Do you write off a % of the heating bill,and electrical also?
If your claiming X% of your morgage as a business expense,what happens if the house is sold?Do you then have to claim X% of the house sale price as capital gains in your business?
I want to claim as much as I can,but don't want to throw up any flags for the IRS,or make it messy if I decide to eventually sell.
Thanks for all input.