Cindy maintains an office in her home that comprises 18% (250 square feet) of total floor space.

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Cindy maintains an office in her home that comprises 18% (250 square feet) of total floor space. Gross income for her business is $47,900, and her residence expenses are as follows:

Real property taxes	$2,556
Interest on mortgage	4,260
Operating expenses	2,130
Depreciation (based on 18% business use)	6,155

If required, round your final answer to the nearest dollar.

What is Cindy's office in the home deduction based on:

The regular method?

Related Book For answer-question

South western Federal Taxation 2017 Essentials of Taxation Individuals and Business Entities

ISBN: 9780357109144

20th edition

Authors: William A. Raabe, David M. Maloney, James C. Young, Annette Nellen

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Posted Date: Nov 05, 2020 01:00 AM

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Cindy maintains an office in her home that comprises 18% (250 square feet) of total floor space.

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South western Federal Taxation 2017 Essentials of Taxation Individuals and Business Entities

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