August 11, 2013
In order to reduce taxpayer burden, the IRS has added the following new options to Schedule C and Schedule D:
Home Office Deduction — New Simplified Method
This new simplified method has been added to Schedule C and may be used by taxpayers that use 300 square feet or less of their home for business purposes.
Here are highlights of the simplified method:
For more details see the Simplified Option for Home Office Deduction.
Aggregate Transaction Reporting on Schedule D
(Capital Gains and Losses)
For stock sales, if the basis that is reported on the Form 1099-B (Proceeds From Broker and Barter Exchange Transactions) is correct, then the totals of all of these transactions may be reported directly on Schedule D on new lines 1a or 8a instead of completing Form 8949 (Sales and Other Dispositions of Capital Assets).
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2018 Federal Return and Taxpayer Expectations
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Reminder of 2018 Itemized Deduction Changes
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