Assume Rita's consulting business generated $13,000 in gross income for the current year. Further, assume Rita uses

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Assume Rita's consulting business generated $13,000 in gross income for the current year. Further, assume Rita uses the actual expense method for computing her home office expense deduction.

a. What is Rita's home office deduction for the current year?

b. What is Rita's AGI for the year?

c. Assuming the original facts, what types and amounts of expenses will she carry over to next year?

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Taxation Of Individuals 2017

ISBN: 9781259548666

8th Edition

Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver

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Question Posted: May 23, 2017 10:07 AM

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Assume Rita's consulting business generated $13,000 in gross income for the current year. Further, assume Rita uses

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a 7400 calculated as follows Gross Income 13000 Less business expenses ...View the full answer

Taxation Of Individuals 2017

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