how many landlords here claim home office deduction?
i have never tried that before although i know i am eligible for the deduction. Home office deduction is said to be a sensitive item which may easily triggle IRS attention or audit.
If done properly, one can deduct a portion of your residential house's interest, depreciation, property tax, insurance, and utility costs. While mortgage interest is deductable through itemized dedcutions, all other items are not. (my property tax is capped by ATM). My net benefit would be a $3000 tax saving. Is it worth the trouble?