Problem $9-36($Algorithmic$)($LO$.5)$

Melanie is employed full$-$time as an accountant for a national hardware chain. She recently started a private consulting practice, which provides tax advice and financial planning to the general public. For this purpose, she maintains an office in her home. Expenses relating to her home for $2024$ are as follows:

Melanie's residence cost $\backslash (\backslash$$ $356,500\backslash )($excluding land$)$ and has living space of $2,000$ square feet, of which $29\backslash \%(580$ square feet$)$ is devoted to business. The office was placed in service in February $2023,$ and under the Regular Method, Melanie had an unused office in the home deduction of $\backslash (\backslash$$ $950\backslash )$ for $2023.$ Assume there is sufficient net income from her consulting practice.

Click here to access the depreciation table to use for this problem. Round your final answer to nearest dollar.

a$.$ What amount can Melanie claim this year for her office in the home deduction under the Regular Method?

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b$.$ What is Melanie's office in the home deduction under the Simplified Method?

$\backslash$$ Exhibit $8\mathrm{.}3$ MACRS Accelerated Depreciation for Personal Property Assuming Half$-$Year Convention $($Percentage Rates$)$

For Property Placed in Service after December $31,1986$