Publication 587
Business Use of Your Home

(Including Use by Day-Care Providers)

For use in preparing 2002 Returns

Table of Contents

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Publication 587, Business Use of Your Home

• Important Changes
• Important Reminder
• Qualifying for a Deduction
  • Exclusive Use
    • Exceptions to Exclusive Use
  • Regular Use
  • Trade or Business Use
  • Principal Place of Business
    • More Than One Trade or Business
  • Place To Meet Patients, Clients, or Customers
  • Separate Structure
• Figuring the Deduction
  • Business Percentage
  • Part-Year Use
  • Deduction Limit
• Deducting Expenses
  • Types of Expenses
  • Examples of Expenses
    • Real Estate Taxes
    • Deductible Mortgage Interest
    • Casualty Losses
    • Insurance
    • Rent
    • Repairs
    • Security System
    • Utilities and Services
• Depreciating Your Home
  • Figuring the Depreciation Deduction for the Current Year
    • Depreciating Permanent Improvements
• Day-Care Facility
• Sale or Exchange of Your Home
• Business Furniture and Equipment
  • Listed Property
  • Property Bought for Business Use
    • Section 179 Deduction
    • Depreciation
  • Personal Property Converted to Business Use
• Recordkeeping
• Where To Deduct
  • Self-Employed Persons
  • Employees
  • Partners
• Schedule C Example
• Instructions for the Worksheet
  • Part 1 - Part of Your Home Used for Business
  • Part 2 - Figure Your Allowable Deduction
  • Part 3 - Depreciation of Your Home
  • Part 4 - Carryover of Unallowed Expenses to Next Year
• How to Get Tax Help

Index

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A

• Adjusted basis

B

• Business percentage

C

• Carryover of expenses
• Casualty losses
• Computers

D

• Day-care facility, Meals
• Day-care facility, Regular use
• Deduction limit
• Deduction requirements, Exclusive use
• Deduction requirements, Place to meet clients
• Depreciation, Furniture and equipment
• Depreciation, Percentage table for 5- and 7-year property

E

• Employee use
• Exclusive use, Exceptions

F

• Fair market value
• Furniture and equipment

H

• Home, Defined
• Home, Depreciation

I

• Insurance

M

• MACRS percentage table, 39-year nonresidential real property
• Mortgage interest

P

• Part-year use
• Partners
• Permanent improvements
• Permanent improvements
• Principal place of business
• Product samples

R

• Real estate taxes
• Recordkeeping
• Regular use
• Rent
• Rental to employer
• Repairs

S

• Sale or exchange of your home
• Section 179 deduction
• Security system
• Separate structure
• Suggestions for publication

T

• Taxpayer Advocate
• Telephone
• Trade or business use
• TTY/TDD information

U

• Utilities

W

• Where to deduct expenses, Employees
• Where to deduct expenses, Self-employed