The  announced a simplified option for taxpayers to figure their deductions for business use of their homes.  Beginning January 1, 2013, the new optional deduction allows a capped amount of $1,500 per year based on $5 per square foot for up to 300 square feet.  The new option provides an easier path to claiming the home office deduction by not requiring the preparation and filing of Form 8829.  Although this option does not allow for a depreciation deduction on the business portion of the home, allowable mortgage interest and real estate taxes need not be allocated between personal and business use.  Accordingly, the full deduction for these items can be claimed as an itemized deduction on Schedule A without the pro ration calculation.  Current restrictions on the home office deduction, such as the requirement that a home office must be used regularly and exclusively for business and the limit tied to the income derived from the particular business, still apply under the new option.