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Cindy maintains an office in her home that comprises 22% (390 square feet) of total floor space. Gross income for her business is $50,150, and
Cindy maintains an office in her home that comprises 22% (390 square feet) of total floor space. Gross income for her business is $50,150, and her residence expenses are as follows:
Real property taxes $4,668
Interest on mortgage $7,780
Operating expenses $3,890
Depreciation (based on 22% business use) $4,835
If required, round your final answer to the nearest dollar.
What is Cindy's office in the home deduction based on:
a.The regular method?
b.The simplified method?
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