How do I deduct if i work from home can i deduct rent on my taxes?
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The home office deduction allows you to deduct expenses for the business use of your home, including rent, if you meet certain criteria. To qualify, you must use part of your home exclusively and regularly as your principal place of business or a place to meet clients or customers. The deduction can be calculated using the simplified method or the actual expenses method, where you calculate the percentage of your home used for business. For example, if your home office occupies 10% of your home's total square footage, you may be able to deduct 10% of your rent.