Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 10 years ago,
Home office deduction
question for those who claim the home office deduction:
So I have 3 properties total under an LLC as well as my regular full time job. I have a room in my basement where I've always kept all books, a desk and have used as a home office (I don't have an office at work, btw. I work in an ER). Thinking about claiming my downstairs room as a home office this year but I really don't want to get audited! I've heard this can be a big red flag for an audit. I did some redecorating in that room as well... According to the irs, it looks like I can claim all of those expenses as well. Has anyone been audited for this? If so, how do they verify how much time you spend down there? I have all receipts from the redecorating project, before/after pics and other business receipts from 2014. Is there anything else I'd need to verify that it is my home office should I get audited. Thanks for any info or advice!