You work as a sales representative for a company and earn $10,000 in commissions during 2020. Your
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Question:
You work as a sales representative for a company and earn $10,000 in commissions during 2020. Your home office is in a 375 square foot den. Your house is 1,500 square feet. How much are you allowed to deduct if your total costs for 2020 were as follows:
Mortgage payments (40% principal, 60% interest) $24,000
Home insurance 900
Office supplies 375
Utilities 1,500
Internet 750
Roof repair 800
Property tax 5,000
Long distance telephone – work related 250
A) $2,675.
B) $3,600.
C) $5,075.
D) $1,475.
E) $1,827.
Related Book For
Fundamentals of Financial Accounting
ISBN: 978-0078025914
5th edition
Authors: Fred Phillips, Robert Libby, Patricia Libby
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