Has anyone here considered a cost/benefit analysis of claiming a home office? If you use even 10% of the house, what are the deductions and tax savings?

A $300,000 house (after subtracting land) depreciated over 39 years at 10% business use equals $769;

RE taxes of $8,000 claiming 10% equals $800;

Mortgage interest of $12,000 claiming 10% equals $1,200.

That is a total of $2,769 annual deductions. At a federal income tax rate of 12% that equals $332 annual federal tax savings.

Add in utilities, and whatever else. And remember, most ride-share drivers don't own million dollar homes.

ps You will also save S/E tax of $415, so the total savings are $747. Don't forget the time spent gathering the data. Add up all those utility bills!

And don't forget the recapture of depreciation taken, plus the 10% of the rest of the gain upon sale of the house because you claimed 10% of the house as a business property. The Sec. 121 exclusion doesn't apply to the office.

Is it really worth it? My house cost $87,000, and I sold it for $360,000.