jack operates an accounting practice out of the spare bedroom in his 8-room house.This room is jack's
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jack operates an accounting practice out of the spare bedroom in his 8-room house.This room is jack's principal place of business and it is used exclusively for business purposes.Last year,jack paid $600 for home insurance ,$1400 in utilities ,$2,400 in property tax,$5,600 in mortgage principal and $8,900 in mortgage interest .He does not claim capital cost allowance.How much can jack deduct as a business-use-of-home expense?
Related Book For
Taxation Of Individuals And Business Entities 2015
ISBN: 9780077862367
6th Edition
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
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