Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Leon has a dedicated home workspace in the garage for his side gig. The workspace is 300 square feet, and the overall home is 2,400
Leon has a dedicated home workspace in the garage for his side gig. The workspace is 300 square feet, and the overall home is 2,400 square feet. Leon's 2022 expenses include the following: Mortgage interest $8,400 Real estate taxes $2,320 Homeowner's insurance $1,100 Painting the kitchen and dining room $500 Lawn care $410 Utilities $3,190 Using the actual expense method, what is Leon's allowable business use of home deduction?
Step by Step Solution
★★★★★
3.28 Rating (154 Votes )
There are 3 Steps involved in it
Step: 1
Leon can deduct a portion of his homerelated expenses for his side gig because he has a dedicated wo...
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
South-Western Federal Taxation 2018 Comprehensive
Authors: David M. Maloney, William H. Hoffman, Jr., William A. Raabe, James C. Young
41st Edition
1337386006, 978-1337386005
