I am not an accountant, however: Your business expenses as an independent contractor are generally deductible on a 1040 Schedule C—and the instructions for that specifically call out how to calculate how much you can deduct for a home office. Some of your operating expenses are deductible, but some need to be spread over several years (e.g., a new computer or other “durable goods”). If your total expenses are under $1000 I believe there’s a Sched C-EZ which involves a lot less calculating. When I was an independent contractor, I generally was filing that one.