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Exercise 9-20 (Algorithmic) (LO. 5) Cindy, who is self-employed, maintains an office in her home that comprises 30% (360 square feet) of total floor space.
Exercise 9-20 (Algorithmic) (LO. 5) Cindy, who is self-employed, maintains an office in her home that comprises 30% (360 square feet) of total floor space. Gross income for her business is $44,900, and her residence expenses are as follows: $4,380 7,300 Real property taxes Interest on mortgage Operating expenses Depreciation (based on 30% business use) 3,650 6,635 If required, round your final answer to the nearest dollar. a. What is Cindy's office in the home deduction based on the regular method? b. What is Cindy's office in the home deduction based on the simplified method
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