Jonathan is a self-employed consultant with a qualifying office in his home.The gross income from his business is $18,000 and he has $14,000 of business expenses other than those for his home office.His home office occupies 20% of the square footage of his home and the total expenses for his home include: $12,000 for mortgage interest, $4,000 for property taxes, $3,600 for utilities, and $1,500 for homeowner's insurance.Depreciation for the business portion of his home is $500.How much can Jonathan deduct for his home office expenses?
A)$0
B)$4,000
C)$4,220
D)$4,720

Question

Quizplus · Accepted Answer

The Answer of Jonathan is a self-employed consultant with a qualifying office in his home.The gross income from his business is $18,000 and he has $14,000 of business expenses other than those for his home office.His home office occupies 20% of the square footage of his home and the total expenses for his home include: $12,000 for mortgage interest, $4,000 for property taxes, $3,600 for utilities, and $1,500 for homeowner's insurance.Depreciation for the business portion of his home is $500.How much can Jonathan deduct for his home office expenses?
A)$0
B)$4,000
C)$4,220
D)$4,720

Jonathan Is a Self-Employed Consultant with a Qualifying Office in His