Assume Rita's consulting business generated $15,000 in gross income. a. What is Rita's home office deduction for
Question:
Assume Rita's consulting business generated $15,000 in gross income.
a. What is Rita's home office deduction for the current year?
b. What would Rita's home office deduction for the current year be if her business generated $10,000 of gross income instead of $15,000? (Answer for both the actual expense method and the simplified method).
c. Given the original facts, what is Rita's AGI for the year?
d. Given the original facts, what types and amounts of expenses will she carry over to next year?
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Step by Step Answer:
a 9100 using the actual expense method calculated as follows Gross Income 15000 Less business expens...View the full answer
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Related Book For 
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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