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Kirk decides to use the simplified option for his home office deduction on his 2019 income tax return. He figures he uses 200 square feet of his home for business. What is his allowable home office deduction?
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Kirk decides to use the simplified option for his home office deduction on his 2019 income tax return. He figures he uses 200 square feet of his home for business. What is his allowable home office deduction?

a. $0
b. $600
c. $1,000
d. $2,000

User Rajagopalan
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1 Answer

7 votes

Answer:

c. $1,000

Step-by-step explanation:

For 2019 allowable home ​office, deduction is prescribed at a rate of $5 per square feet for a maximum of 300 square feet.

Deduction allowed = 200 * $5 per square feet

Deduction allowed = $1,000

So, his allowable home office deduction is $1,000

User Oleg Razgulyaev
by
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