Once you have chosen a method for a taxable year, you cannot later change to the other method for that same year.You choose a method by using that method on your timely filed, original federal income tax return for the taxable year.You may choose to use either the simplified method or the regular method for any taxable year.Loss carryover from use of regular method in prior year may be claimed if gross income test is met in current year Loss carryover from use of regular method in prior year may not be claimed Recapture of depreciation on gain upon sale of homeĭeduction cannot exceed gross income from business use of home less business expensesĪmount in excess of gross income limitation may not be carried overĪmount in excess of gross income limitation may be carried over No recapture of depreciation upon sale of home F)ĭepreciation deduction for portion of home used for business Home-related itemized deductions apportioned between Schedule A and business schedule (Sch. Home-related itemized deductions claimed in full on Schedule A Standard $5 per square foot used to determine home business deductionĪctual expenses determined and records maintained Deduction for home office use of a portion of a residence allowed only if that portion is exclusively used on a regular basis for business purposesĪllowable square footage of home use for business (not to exceed 300 square feet)

Office business 2013