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Jayda, who is self-employed, maintains an office in her home that comprises 30% (230 square feet) of total floor space. Gross income for her
Jayda, who is self-employed, maintains an office in her home that comprises 30% (230 square feet) of total floor space. Gross income for her business is $43,400, and her residence expenses are as follows: Real property taxes $5,052 Interest on mortgage 8,420 Operating expenses 4,210 Depreciation (based on 30% business use) 3,875 If required, round your final answer to the nearest dollar. a. What is Jayda's office in the home deduction based on the regular method? 7,109 X Feedback Check My Work Self-employed individuals are not allowed a deduction for office in the home expenses unless a portion of the residence is used exclusively on a regular basis under certain circumstances. b. What is Jayda's office in the home deduction based on the simplified method? $ 1,450 X
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