28 Maggie lost her job in the current year. She paid the expenses of owning her home interest on the mortgage and property taxes out of savings. Her tax return shows negative taxable income of $20,000. How should this loss be treated? 26. Anne is a self employed restaurant critic who does her work exclusively from a home office. And income is $25,000 before the home office deduction this year her office takes up 200 square feet and her 1000 square foot apartment the total expenses for her apartment or six thousand dollars for rent $1000 for utilities $200 for renters insurance and $800 for pest control and other maintenance. What is and home office deduction please show your calculations 22. carry law and her friend 4500 dollars to buy a used car. She had her friend sign a note with repayment terms and set a responsible interest rate on Kevin owns a red tail store and during the current year he purchases six hundred thousand dollars worth of into inventory kevin beginning inventory with 65000 and his ending inventory is 75000 during the year kevin withdrew 15000 in inventory for his personal use use part 3 of schedule see below to calculate kevin cost of goods sold for the year the note because the $4500 was most of her savings. Her friend left town without a forwarding address and nobody carrie nose has heard from her in the last year how should carry treat this bad loan for tax purposes? chris is a self employed sales consultant to spend significant time entertaining potential customers. She keeps all of the appropriate records to substantiate her entertainment. She has the following expenses in the current year. Restaurant meals 5000 greens fees all business 500 tickets to baseball games 500 country club dues all business use 6000 what is the tax deductible entertainment expense grace may claim in the current year on which tax form should she claim the deduction