Jayda maintains an office in her home that comprises 8% (200 square feet) of total floor space.
Question:
Jayda maintains an office in her home that comprises 8% (200 square feet) of total floor space. Gross income for her business is $42,000, and her residence expenses are as follows:
What is Jayda’s office in the home deduction based on:
a. The Regular Method?
b. The Simplified Method?
Transcribed Image Text:
Real property taxes Interest on mortgage Operating expenses Depreciation (based on 8% business use) $2,400 4,000 2,200 450
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Related Book For
South-Western Federal Taxation 2022 Individual Income Taxes
ISBN: 9780357519073
45th Edition
Authors: James C. Young, Annette Nellen, William A. Raabe, Mark Persellin, William H. Hoffman
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