8. Ellen loans Nicole $45,000 to start a hair salon. Unfortunately, the business fails in 2016 and she is unable to pay back Ellen. In 2016, Ellen also had $20,000 of income from her part-time job and $15,000 of capital gain from the sale of stock. How much of the $45,000 bad debt can Ellen claim as a capital loss in 2016? \# 12,000, con $33,000 carried forwerd 201? 9. Bobby is an accountant who uses a portion of his home as his office. His home is 2,500 square feet and his office space occupies 1,500 square feet. Rent expense is $18,000 a year; utilities expense is $2,000 a year; and maintenance expense is $3,000 a year. What is the total amount of these expenses that can be allocated to his home office? 10. Larry qualifies for a home office deduction. The amount of space devoted to the business is 500 square feet of the total 2,000 square feet in his house. Larry's total rent on the house is $7,000, and he pays utilities (other than telephone) of $4,500 for the year. Calculate Larry's deductions for home office expenses before the gross income limitation Rent expense Utilities Total home office expenses