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Mercury is self-employed and she uses a room in her home as her principal place of business. She meets clients there and doesn't use the

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Mercury is self-employed and she uses a room in her home as her principal place of business. She meets clients there and doesn't use the room for any other purpose. The size of her home office is 410 square feet. The size of her entire home is 3,500 square feet. During the year, Mercury received $10,550 of gross income from her business activities and she reported $3,600 of business expenses unrelated to her home office. For her entire home in the current year, she reported $4,500 of mortgage interest, $1,020 of property taxes, $820 of insurance, $850 of utilities and other operating expenses, and $4,200 of depreciation expense. What amount of home office expenses is Mercury allowed to deduct in the current year using the actual expense method? Indicate the amount and type of expenses she must carry over to the next year, if any. What amount of home office expenses is Mercury allowed to deduct in the current year using the simplified method? Mercury is self-employed and she uses a room in her home as her principal place of business. She meets clients there and doesn't use the room for any other purpose. The size of her home office is 410 square feet. The size of her entire home is 3,500 square feet. During the year, Mercury received $10,550 of gross income from her business activities and she reported $3,600 of business expenses unrelated to her home office. For her entire home in the current year, she reported $4,500 of mortgage interest, $1,020 of property taxes, $820 of insurance, $850 of utilities and other operating expenses, and $4,200 of depreciation expense. What amount of home office expenses is Mercury allowed to deduct in the current year using the actual expense method? Indicate the amount and type of expenses she must carry over to the next year, if any. What amount of home office expenses is Mercury allowed to deduct in the current year using the simplified method

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