Get the free 2015 Home Office Worksheet - Jodee Paape amp Associates LLC

2015 Home Office Worksheet General Information Principal business or profession Taxpayer/Spouse/Joint Business Use of Home Date Home Acquired Total Cost $ Cost of Improvements (prior to 2015) $ Cost

How to fill out 2015 home office worksheet

How to fill out 2015 home office worksheet:

1. Gather all necessary documents such as receipts, utility bills, and documentation of your home office expenses.
2. Start by filling out your personal information at the top of the worksheet, including your name, address, and social security number.
3. Indicate the date of when you started using your home office for business purposes.
4. Calculate the total square footage of your home and then determine the square footage of your home office space.
5. Determine the percentage of your home that is used for business by dividing the square footage of your home office by the total square footage of your home.
6. List all of your home office expenses, including utilities, repairs, mortgage or rent, and insurance. Provide the total amount for each category.
7. Calculate the total for all of your home office expenses and enter the final amount in the appropriate section of the worksheet.
8. Compute the depreciation expense for your home office by multiplying the cost of your home by the percentage of your home used for business.
9. Enter the depreciation expense in the designated section of the worksheet.
10. Add up the total home office expenses and depreciation expense to determine the total deductions for your home office.
11. Transfer the total deductions to your tax return in the appropriate section.
12. Keep all receipts and documentation related to your home office expenses in case of an audit.

Who needs 2015 home office worksheet:

1. Self-employed individuals who work from their homes and use a portion of their residence for business purposes.
2. Employees who are required to have a home office for their job and are eligible to claim home office deductions.
3. Individuals who are filing their taxes for the year 2015 and need to report their home office expenses and deductions accurately.

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What is home office worksheet?

A home office worksheet is a document used to calculate and report expenses related to a home office used for business purposes.

Who is required to file home office worksheet?

Individuals who use a portion of their home exclusively for business purposes are required to file a home office worksheet.

How to fill out home office worksheet?

To fill out a home office worksheet, you need to gather all relevant expenses related to your home office, such as utilities, rent or mortgage, insurance, and maintenance costs.

What is the purpose of home office worksheet?

The purpose of a home office worksheet is to calculate the deductible expenses associated with using a home office for business purposes.

What information must be reported on home office worksheet?

Information such as total square footage of home office space, total square footage of the home, and expenses related to the home office must be reported on the home office worksheet.