Luke is a self-employed attorney. He maintains an office in his home that is exclusively dedicated...
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Luke is a self-employed attorney. He maintains an office in his home that is exclusively dedicated to his work. The room occupies 500 square feet, which is 7% of the floor space of the home. Luke incurs the following expenses: New carpet for the office only - $900 Mortgage interest - $2,000 Property taxes - $6,000 What is the amount of Luke's home office expense deduction, after considering both the regular and the simplified method? Show your work to receive full credit! Luke is a self-employed attorney. He maintains an office in his home that is exclusively dedicated to his work. The room occupies 500 square feet, which is 7% of the floor space of the home. Luke incurs the following expenses: New carpet for the office only - $900 Mortgage interest - $2,000 Property taxes - $6,000 What is the amount of Luke's home office expense deduction, after considering both the regular and the simplified method? Show your work to receive full credit!
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To calculate Lukes home office expense deduction we need to consider both the regular method and the ... View the full answer
Related Book For
Taxation For Decision Makers 2019
ISBN: 9781119497288
9th Edition
Authors: Shirley Dennis Escoffier, Karen A. Fortin
Posted Date:
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