Does Telecommuting give me any tax advantages?

So I've looked and looked and can't seem to find anything about this. I've been working for a company over the past year. This company doesn't have an office so I do my work from home (telecoummuting). I'm full time with benefits and all, but I feel like there should be some things I can deduct from my taxes since I'm using all my own equipment, electricity and space. Does anyone know what tax advantages I can get?

Thanks

Public Comments

1. If you can deduct a part of your home on your taxes.

2. If you use a section of your home EXCLUSIVELY for the business, you must(!) deduct a portion of your utilities, property taxes, mortgage interest, repairs, depreciation, and general home expenses as an itemized deduction. You may also depreciate your equipment.

Some of these would have been deductible even if you didn't have an office, and the depreciation becomes taxable (at a maximum of 25%, under current law) when you sell your house.

Any deductions may be calculated on form 8829 (not filed, because you're apparently an employee), and taken as an itemized deduction through form 2106 or 2106-EZ (employee business expenses) and form 1040 schedule A. Your employee business expense deduction is limited to the "gross income from business use of your home" (which may be the full amount of your gross income from employment), although excess amounts can be deferred.

In a change since the last time I filed the schedules, mortgage interest and property taxes are deducted on their regular line of schedule A, rather than being apportioned to different sections of the form, but they still .