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Exercise 9-24 (Algorithmic) (LO. 5) Cindy, who is self-employed, maintains an office in her home that comprises 10% (240 square feet) of total floor space.
Exercise 9-24 (Algorithmic) (LO. 5) Cindy, who is self-employed, maintains an office in her home that comprises 10% (240 square feet) of total floor space. Gross income for her business is $43,400, and her residence expenses are as follows: Real property taxes $3,612 Interest on mortgage 6,020 3,010 Operating expenses Depreciation (based on 10% business use) 5,195 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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