Multiple Choice
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
Correct Answer:

Verified
Correct Answer:
Verified
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