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Question
How do I claim home depreciation as a freelancer?
Answer

To claim home depreciation as a freelancer, you first need to figure out what portion of your home is used for work. This can be done by dividing the sqft of your workspace by the total sqft of your home.

Use Form 8829 to report the basis of the home under Part III. Your basis is the purchase price of the home, plus any major repairs that weren't covered by insurance (remodels, new roof, etc.)

Be sure to make sure you qualify for a home office before claiming one. Only offices used regularly and exclusively for work count.

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Answer

To claim home depreciation as a freelancer, you first need to figure out what portion of your home is used for work. This can be done by dividing the sqft of your workspace by the total sqft of your home.

Use Form 8829 to report the basis of the home under Part III. Your basis is the purchase price of the home, plus any major repairs that weren't covered by insurance (remodels, new roof, etc.)

Be sure to make sure you qualify for a home office before claiming one. Only offices used regularly and exclusively for work count.

No answer given yet!

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Keeper is a delightfully smart tax filing software that's especially useful for people with 1099 contracting and freelance income. Our blog breaks down IRS guidance with real-world examples and analysis by tax professionals — empowering taxpayers to save money and take control of their finances.

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