IRS Publication 587: Business Use of Your Home (Including Use by Day-Care Providers)

IRS Publication 587: Business Use of Your Home (Including Use by Day-Care Providers)
A document published by the Internal Revenue Service (IRS) that provides information on how taxpayers who use their home for business purposes can calculate and claim deductions. IRS Publication 587 outlines the type of expenses that can be deducted, how to calculate the deductions, what to do if a home used for business purposes is sold, how to deduct furniture costs and what sort of records to keep.

Properties open to business use can include homes, apartments, condos and other living areas but does not include hotels or inns. In order to qualify for any deduction a portion of the property must be used exclusively for business purposes. Expenses such as mortgage interest or real estate taxes typically do not qualify.


Investment dictionary. . 2012.

Игры ⚽ Нужно сделать НИР?

Look at other dictionaries:

  • 2011 Wisconsin protests — Part of 2011 United States public employee protests Thousands gather inside Madison Wisconsin s Capitol …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”