Wanda is a single taxpayer and an elementary school teacher. She also tutors students in her home as a small business. During 2019, Wanda purchased $300 in school supplies for her classroom. She also purchased $400 in supplies and materials for her tutoring business. Lastly, she uses a 200 square feet spare bedroom in her house to tutor her clients. Occasionally, her mother also stays in that room during holidays. If Wanda elects to use the simplified method for her home office, what are her deductions that she may claim on her tax return based on the information provided (ignore any income limitations) and where can she claim these deductions?
Wanda is a single taxpayer and an elementary school teacher. She also tutors students in her home as a small business. During 2019, Wanda purchased $300 in school supplies for her classroom. She also purchased $400 in supplies and materials for her tutoring business. Lastly, she uses a 200 square feet spare bedroom in her house to tutor her clients. Occasionally, her mother also stays in that room during holidays. If Wanda elects to use the simplified method for her home office, what are her deductions that she may claim on her tax return based on the information provided (ignore any income limitations) and where can she claim these deductions?
Chapter3: Business Income And Expenses
Section: Chapter Questions
Problem 8P: Martha is a self-employed tax accountant who drives her car to visit clients on a regular basis. She...
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Wanda is a single taxpayer and an elementary school teacher. She also tutors students in her home as a small business. During 2019, Wanda purchased $300 in school supplies for her classroom. She also purchased $400 in supplies and materials for her tutoring business. Lastly, she uses a 200 square feet spare bedroom in her house to tutor her clients. Occasionally, her mother also stays in that room during holidays. If Wanda elects to use the simplified method for her home office, what are her deductions that she may claim on her tax return based on the information provided (ignore any income limitations) and where can she claim these deductions?
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT