I work from home and have a question about the home office deduction. How do I calculate the property tax basis of my home and land when trying to calculate my home office deduction?

When calculating a home office deduction your property tax basis for your home is usually what you paid for the property. You may also add or subtract certain adjustments (Ex: cost of improvements).

The purchase price might have been allocated between the land and the home when you bought the property. If not, use the value on one of these to calculate a reasonable allocation:

  • Your property tax statement
  • Mortgage appraisal

You might find the tax assessor's value isn't reasonable figure when compared to the purchase price. If so, you can allocate based on estimated building replacement costs.


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