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McGraw-Hill's Taxation of Individuals and Business Entities 3rd Edition by Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
Edition 3ISBN: 9780078111068McGraw-Hill's Taxation of Individuals and Business Entities 3rd Edition by Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
Edition 3ISBN: 9780078111068 Exercise 24
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 for the current year be if her business generated $10,000 of gross income instead of $15,000?
c.What is Rita's AGI for the year?
d.What types and amounts of expenses will she carry over to next year?
b.What would Rita's home office deduction for the current year be if her business generated $10,000 of gross income instead of $15,000?
c.What is Rita's AGI for the year?
d.What types and amounts of expenses will she carry over to next year?
Explanation
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Business use of the home
(a)In the pres...
McGraw-Hill's Taxation of Individuals and Business Entities 3rd Edition by Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
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