7 Charles maintains an office in his home that comprises 15% (500 sq. feet) Gross income for his business is $60,000 and his residence expenses are as follows: Real property taxes Interest on mortgage Operating expenses Depreciation (based on 15% business use Calculate Charles office in home deduction based on 4,000 6,000 2,500 600 1,500 a Simplified Method 2,475 .15(4000+6000+2500) +600 b Actual Sheet1 a e