Pat has a home based business. He uses the basement area for his business. The basement area is approximately 18% of the total square feet of floor space in the house. Pat provides you with the following expense for his home business (amounts are for the full year). Telephone charges (land line) $1,243 Business long distance 675 Property Taxes 2050 House Insurance 2240 Interest on Mortgage 4413 

Required: Calculate the amount that may be deducted from business income (assume there is sufficient income to allow the full deduction). Round answer to nearest whole dollar, do not use commas or dollar signs in your answer.

Answer rating: 100% (QA)

To calculate the amount that may be deducted from business income for Pats homebased business we nee... View the full answer