Denver Tax Expert: Why You Can't Write Off Home Office Expenses On Your 2020 Taxes
(CBS Denver)- With the coronavirus pandemic forcing many people to telecommute or work from home, some are hoping to write off some of those expenses like high-speed internet or printing costs. Unfortunately, one tax expert in Denver said that's not the case.
Owner of Denver Tax Group, Chadwick Elliott, said it's one of the most popular questions this year.
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"In the past, you've been able to write off your expenses at home if you have to work from home. But with the tax changes, the Trump Tax Act that happened in 2018, that made changes to where you could no longer write off working from home," said Elliott.
Here is what happened, you could claim an itemized deduction for unreimbursed business expenses, including expenses for the use of part of your home for business, if they exceeded 2% of your adjusted gross income before 2018. That deduction was eliminated by the 2017 Tax Reform Law.
Elliott said there is a caveat to this: gig workers like Uber drivers or subcontractors who work from home still can claim those expenses. The deadline to file taxes this year is April 15, but Elliott believes the deadline could be extended like it was last year.