If you are a freelancer, self-employed sole proprietor and/or have a home-based
business, then you probably know to file a Schedule C with your 1040 to itemize
deductible expenses. There’s another tax form that you will want to
use, Form 8829 (Expenses for Business Use of Your Home) are the main
forms for home-based business owners.
From the Business Owner’s Toolkit:
must fill out a special form to claim the home office deduction. You
must complete Form 8829, and then transfer the total to your Schedule C
when you file your income tax return. Unfortunately, Schedule C-EZ,
which is a much simpler form, can’t be used if you’re claiming the home
office deduction. The business portion of your home mortgage interest
and real estate taxes is claimed on Form 8829 and cannot be claimed
again as an itemized deduction on Schedule A of your return.
Reminder: April 15 is only 69 days away.