Which of the following statements is true in regards to the home office deduction?
A) The property taxes and mortgage interest expense are allocated first to the net income of the home office.Maintenance and depreciation expense are deducted next to the extent that the activity generated income for the year.
B) The home office deduction may create a loss.
C) If you use the work area for both personal use and business use,you still may qualify for the home office deduction.
D) If a professor has an office at the college,he may still take a home office deduction for grading papers at home.
Correct Answer:
Verified
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