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For year 2018 ghtseeing 24. Chris runs a business out of her home. She uses 500 square feet of her home exclusively for the business.
For year 2018
ghtseeing 24. Chris runs a business out of her home. She uses 500 square feet of her home exclusively for the business. Her home is 2500 square feet in total. Chris had $36,000 of business revenue and $32,000 of business expenses from her home business. The following expenses relate to her home: Mortgage interest Real estate taxes Repairs Utilities Insurance Depreciation (on business use portion of home) $ 12,400 1,800 3,200 2,600 650 1,750 What is Chris' net income from her business and the amount of expenses carried over to the following year, if any? Net Income $ 0 0 door Carryover $ 1,880 $ 0 $ 4,130 $ $ $ 4,000 36,000Step by Step Solution
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