24 Required information The following information applies to the questions displayed below] Part 1 of 4 Rita owns a sole proprietorship in which she works as a management consultant. She maintains an office in her home (500 square feet) where she meets with clients, prepares bils, and performs other work-related tasks. Her business expenses other than home office expenses, total $5,640. The following home-related expenses have been allocated to her home fice under the actual expense method for calculating home office expenses eBook Real property taxes Interest on hone mortgage Operating expenses of hone Depreciation 1,620 S,130 810 1,612 Print Also, assume that, not counting the sole proprietorship, Rita's AGI is $60,400. Assume Rita's consulting business generated $15,100 in gross income. (Leave no answer blank. Enter zero if applicable.) a. What is Rita's home office deduction for the current year? Required information (The following information applies to the questions displayed below Part 2 of 4 Rita wns a sole proprietorship in which she works as a management consultant. She maintains an office in her home (500 square feet) where she meets with clients, prepares bills, and performs other work-related tasks. Her business expenses, other than home office expenses, total $5,640. The following home-related expenses have been allocated to her home office under the actual expense method for calculating home office expenses. eBook Real property taxes Interest on hone nortgage Operating expenses of home Depreciation $1, 620 5,130 810 1,612 Print Also, assume that, not counting the sole proprietorship, Rita's AGI is $60,400 Assume Rita's consulting business generated $15,100 in gross income. (Leave no answer blank. Enter zero if applicable.) b. What would Rita's home office deduction be if her business generated $10,100 of gross income instead of $15,1007 (Answer for both the actual expense method and the simplified method.) 26 o Required information The following information applies to the questions displayed below Part 3 of 4 ita owns a sole proprietorship in which she works as a management consultant. She maintains an office in her home (500 square feet) where she meets with clients, prepares bills, and performs other work-related tasks. Her business expenses, other than home office expenses, total $5,640. The following home-related expenses have been allocated to her home office under the actual expense method for calculating home office expenses. eBook Real property taxes Interest on hone mortgage Operating expenses of hone Depreciation 1,620 s,130 810 1,612 Print Also, assume that, not counting the sole proprietorship, Rita's AGI is $60,400 Assume Rita's consulting business generated $15,100 in gross income. (Leave no answer blank. Enter zero if applicable.) c. Given the original facts, what is Rita's AGI for the year? 27 Required information The following information applies to the questions displayed below) Part 4 of 4 square feet) where she meets with clients, prepares bills, and performs other work-related tasks. Her business expenses, other than home office expenses, total $5,640. The followi office under the actual expense method for calculating home office expenses ng home-related expenses have been allocated to her home eBook Real property taxes Interest on home mortgage Operating expenses of home Depreciation $1.620 5,130 810 1,612 Print Also, assume that, not counting the sole proprietorship, Rita's AGl is $60,400 e Rita's consulting business generated $15,100 in gross income. (Leave no answer blank. Enter zero if applicable.) d. Give n the original facts, what types and amounts of expenses will she carry over to next year? Tier 1 expenses carried over to next year Tier 2 expenses carried over to next year Tier 3 expenses carried over to next year
