Home Office Deduction

Definition

Tax deduction for portion of home used regularly and exclusively for business, calculated by square footage or simplified method.

Related Terms

Schedule C

IRS form for reporting income and expenses from sole proprietorship or self-employment on your personal tax return.

FAQs

Can gig workers claim this?

Only if you have a dedicated home office space.

What's the simplified method?

$5 per square foot, up to 300 sq ft ($1,500 max).

Similar Terms

1099 Form

IRS tax form reporting income paid to non-employees, commonly 1099-NEC for contractor pay or 1099-K for payment platforms.

1099-K

Tax form reporting payments from payment networks like PayPal or gig platforms when exceeding annual thresholds.

1099-NEC

Tax form for non-employee compensation of $600 or more, replacing Box 7 of the old 1099-MISC for contractor payments.

Self-Employment Tax

Social Security and Medicare taxes for self-employed individuals, totaling 15.3% on net earnings.

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Last updated: January 18, 2026

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