I
110th CONGRESS
2d Session
H. R. 6972
IN THE HOUSE OF REPRESENTATIVES
September 18, 2008
Mr. Ryan of Ohio (for himself, Mr. Israel, Mr. Weiner, Mr. Rodriguez, Ms. Shea-Porter, and Mrs. Boyda of Kansas) introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to provide for a standard home office deduction in the case of certain uses of the office.
Standard home office deduction
In General
Subsection (c) of section 280A of the Internal Revenue Code of 1986 (relating to disallowance of certain expenses in connection with business use of home, rental of vacation homes, etc.) is amended by adding at the end the following new paragraph:
Standard home office deduction
In general
In the case of an individual who is allowed a deduction for the use of a home office because of a use described in paragraphs (1), (2), or (4) of this subsection, notwithstanding the limitations of paragraph (5), if such individual elects the application of this paragraph for the taxable year, such individual shall be allowed a deduction equal to the standard home office deduction for the taxable year in lieu of the deductions otherwise allowable under this chapter for such taxable year by reason of being attributed to such use.
Standard home office deduction
For purposes of this paragraph, the standard home office deduction is the lesser of—
$2,000, or
the gross income derived from the individual’s trade or business for which such use occurs.
Inflation adjustment
In the case of any taxable year beginning in a calendar year after 2008, the dollar amount in subparagraph (B)(i) shall be increased by an amount equal to—
such dollar amount, multiplied by
the cost-of-living
adjustment determined under section 1(f)(3) for the calendar year in which the
taxable year begins, determined by substituting 2007
for
1992
in subparagraph (B) thereof.
.
Effective Date
The amendment made by this section shall apply to taxable years beginning after December 31, 2007.