23. LO.5 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: Real property taxes Interest on mortgage Operating expenses Depreciation (based on 8% business use) $2,400 4,000 2,200 450 What is Jayda's office in the home deduction based on: a. The Regular Method? b. The Simplified Method?

23. LO.5 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: Real property taxes Interest on mortgage Operating expenses Depreciation (based on 8% business use) $2,400 4,000 2,200 450 What is Jayda's office in the home deduction based on: a. The Regular Method? b. The Simplified Method?

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter9: Deduct Ions: Employee And Self-employed - Related Expenses

Section: Chapter Questions

Problem 21CE

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