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Exercise 9-20 (Algorithmic) (LO. 5) Cindy, who is self-employed, maintains an office in her home that comprises 26% (350 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 26% (350 square feet) of total floor space. Gross income for her business is $52,400, and her residence expenses are as follows: Real property taxes $2,556 Interest on mortgage 4,260 Operating expenses 2,130 Depreciation (based on 26% business use) 6,035 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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