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A bill to amend the Internal Revenue Code of 1986 to provide a standard home office deduction.

USA115th CongressS-290| Senate 
| Updated: 2/2/2017
Tom Udall

Tom Udall

Democratic Senator

New Mexico

Cosponsors (1)
John Boozman (Republican)

Finance Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Helping Our Middle-Class Entrepreneurs Act or the HOME Act This bill amends the Internal Revenue Code to allow a taxpayer who uses a residence to conduct a trade or business a standard tax deduction equal to the lesser of $1,500 or the taxpayer's gross trade or business income derived from the business use of such residence. The bill provides for an inflation adjustment to the standard deduction amount in calendar years beginning after 2017.
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Timeline
Feb 2, 2017

Latest Companion Bill Action

HR 115-836
Introduced in House
Feb 2, 2017
Introduced in Senate
Feb 2, 2017
Read twice and referred to the Committee on Finance.
  • February 2, 2017

    Latest Companion Bill Action

    HR 115-836
    Introduced in House


  • February 2, 2017
    Introduced in Senate


  • February 2, 2017
    Read twice and referred to the Committee on Finance.

Taxation

Related Bills

  • HR 115-836: To amend the Internal Revenue Code of 1986 to provide a standard home office deduction.
Business investment and capitalHousing finance and home ownershipIncome tax deductionsInflation and prices

A bill to amend the Internal Revenue Code of 1986 to provide a standard home office deduction.

USA115th CongressS-290| Senate 
| Updated: 2/2/2017
Helping Our Middle-Class Entrepreneurs Act or the HOME Act This bill amends the Internal Revenue Code to allow a taxpayer who uses a residence to conduct a trade or business a standard tax deduction equal to the lesser of $1,500 or the taxpayer's gross trade or business income derived from the business use of such residence. The bill provides for an inflation adjustment to the standard deduction amount in calendar years beginning after 2017.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Feb 2, 2017

Latest Companion Bill Action

HR 115-836
Introduced in House
Feb 2, 2017
Introduced in Senate
Feb 2, 2017
Read twice and referred to the Committee on Finance.
  • February 2, 2017

    Latest Companion Bill Action

    HR 115-836
    Introduced in House


  • February 2, 2017
    Introduced in Senate


  • February 2, 2017
    Read twice and referred to the Committee on Finance.
Tom Udall

Tom Udall

Democratic Senator

New Mexico

Cosponsors (1)
John Boozman (Republican)

Finance Committee

Taxation

Related Bills

  • HR 115-836: To amend the Internal Revenue Code of 1986 to provide a standard home office deduction.
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Business investment and capitalHousing finance and home ownershipIncome tax deductionsInflation and prices