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How much can maureen deduct for her home office

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Question - Maureen operates a cosmetics sales business from her home. She uses 400 of 1,600 square feet of the home as an office for the entire year. Her income before her home office deduction is $3,400 and un-apportioned expenses for the home are as follows:

Mortgage interest $5,000

Property taxes 1,400

Utilities 1,200

Repairs and maintenance 600

Depreciation for entire home 6,000

1. How much can Maureen deduct for her home office if she uses the actual expense method?

2. How much can Maureen deduct for her home office if she uses the simplified method?

3. If any of the expenses are not deductible currently, how are they treated for tax purposes?

Reference no: EM132143731

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