I've been a W2 employee for my employer all year, but I will likely be switching to a freelancer (1099 I assume?) for November and December - same employer, same job. I've worked from home all year, but per IRS rules, I won't qualify for home office deductions as a W2.
- If I switch to 1099, will I qualify for the home office deduction for Nov/Dec? I've been looking to remodel/buy new furniture for my home office that I'll be using 100% for work, so I'm wondering if I'll be able to deduct it all against my 1099 income?
- Anything to keep in mind regarding the switch being partial year?
- Any other advantages to doing this? Maybe ability to deduct a portion of my overall home bills?
- Any disadvantage or things to watch out for?
Thanks for any insight!