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What is Cindys office in the home deduction

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Question - Cindy, who is self-employed, maintains an office in her home that comprises 26% (400 square feet) of total floor space. Gross income for her business is $47,150, and her residence expenses are as follows:

Real property taxes $5,436

Interest on mortgage $9,060

Operating expenses $4,530

Depreciation (based on 26% business use) $2,195

If required, round your final answer to the nearest dollar.

Required -

a. What is Cindy's office in the home deduction based on the regular method?

b. What is Cindy's office in the home deduction based on the simplified method?

Reference no: EM132486228

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