Per IRS Publication 587, Business Use of Your Home, page 7:
If you rent the home you occupy and meet the requirements for business use of the home, you can deduct part of the rent you pay. To figure your deduction, multiply your rent payments by the percentage of your home used for business.
If you own your home, you cannot deduct the fair rental value of your home. See Depreciating Your Home in IRS Publication 587 Business Use of Your Home.
(page 1): Employee expenses for business use of the home no longer allowed. You can no longer claim any miscellaneous itemized deductions on Schedule A, including expenses for using your home as an employee. Miscellaneous itemized deductions are those deductions that would have been subject to the 2% of adjusted gross income limitation.
If you are self-employed and file Schedule C (Form 1040):
To enter information for self-employed business use of home expenses in TaxAct:
Refer to IRS Publication 587 for additional information.