I do some consulting on the side for one company for which I received a 1099 for $7200. I also do a lot of side work for which I do not get paid. But in any case I use my home office for this work. The difference in my tax return by using the home office deductions is ~ $300 in my favor. Without getting into a whole discussion over qualifications, let's assume it does qualify, is it worth it? I understand there is something it affects if you sell the home and that it might be a "red flag".
Thanks,
-Jim