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Author Question: Dighi, an artist, uses a room in his home (250 square feet) as a studio exclusively to paint. The ... (Read 48 times)

jerry coleman

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Question 1

When a public school system requires advanced education for a teacher to continue employment, the teacher's expenses are a deductible education expense.
◦ true
◦ false

Question 2

Dighi, an artist, uses a room in his home (250 square feet) as a studio exclusively to paint.  The studio meets the requirements for a home office deduction. (Painting is considered his trade or business.) The following information appears in Dighi's records:



(a) What is the amount of Dighi's home office deduction if he is self-employed?  
(b) If some amount is not allowed under the tax law, how is the disallowed amount treated? 
(c) Assume all of Dighi's records of expenses relating to the room were destroyed in a major paint spill.  How much of a home office deduction, if any, will he be allowed?


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Marked as best answer by jerry coleman on Sep 13, 2020

macagnavarro

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jerry coleman

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Reply 2 on: Sep 13, 2020
Great answer, keep it coming :)


fatboyy09

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

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