64. Assume Ritas consulting business generated $15,000 in gross income. a. What is Ritas home office deduction
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64. Assume Rita’s consulting business generated
$15,000 in gross income.
a. What is Rita’s home office deduction for the current year?
b. What would Rita’s home office deduction be if her business generated $10,000 of gross income instead of $15,000? (Answer for both the actual expense method and the simplified method.)
c. Given the original facts, what is Rita’s AGI for the year?
d. Given the original facts, what types and amounts of expenses will she carry over to next year?
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Related Book For
Taxation Of Individuals And Business Entities 2020
ISBN: 9781259969614
11th Edition
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
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