Show calculations - You work as a sales representative for a company and earn $10,000 in commissions during 2020. Your home office is in a 375 square foot den. Your house is 1,500 square feet. How much are you allowed to deduct if your total costs for 2020 were as follows: Mortgage payments (40% principal, 60% interest) Home insurance $24,000 900 375 Office supplies Utilities 1,500 750 Internet Roof repair Property tax Long distance telephone – work related 800 5,000 250
Show calculations - You work as a sales representative for a company and earn $10,000 in commissions during 2020. Your home office is in a 375 square foot den. Your house is 1,500 square feet. How much are you allowed to deduct if your total costs for 2020 were as follows: Mortgage payments (40% principal, 60% interest) Home insurance $24,000 900 375 Office supplies Utilities 1,500 750 Internet Roof repair Property tax Long distance telephone – work related 800 5,000 250
Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter5: Making Automobile And Housing Decisions
Section: Chapter Questions
Problem 6FPE: Calculating required down payment on home purchase. How much would you have to put down on a house...
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