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Question: Randi qualifies for a home deduction. The


Randi qualifies for a home deduction. The amount of space devoted to business use is 400 square feet of the total 2,000 square feet of her home. Randi’s mortgage interest and property taxes in total are $1,600. Other deductions properly allocated to the home office total $300. In addition, Randi purchases and uses supplies costing $200 during the year. Assume Randi earns income of $3,400 for the year before deducting any home office or supplies deduction. Calculate Randi’s home office deduction



Randi qualifies for a home deduction. The amount of space devoted -1





Randi qualifies for a home deduction. The amount of space devoted -2






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Schedule CForm t1040) 2016 Page 2 Part II Cost of Goods Sold (see instructions) 33 Methodis) used to value closing inventory: O Cost 6 O Lower of cost or market Other (attach explanation) 34 Was there any change in dotermining quantities, costs, or valuations between opening and closing inventory? I"Yes," attach explanation. O Yes DRAFT-AS CF 21, 2016 DO NOT FIL 35 Inventory at begining of year. IH alfrent trom last year's dlosing inventory, attach explanation 36 Purchases less cost ofi n for personalu 37 Cost of labor. Do not include any amounts paid to yourselt. 38 Materials and supplies 38 39 Other costs. 39 40 Add lines 35 though 30 40 41 Inventory at end o Cost of goods sold. Subtract line 41 from line 40. Enter the result here and on line 4. Part IV Information on Your Vehicle. Complete this part only if you are claiming car or truck expenses on line 9 and are not required to file Form 4562 for this business. See the instructions for line 13 to find out if you must file Form 4562. 43 When did you place your vehicle in sevice for business purposes? (month, day, year)! 4 Of the total number of miles you drove your vehicle during 2016, enter the number of miles you used your vehicle for: a Business Commuting (see instructions) e Other 45 Was your vehicle available for personal use during of-duty hours?. OYes O No 46 Do you (or your spouse) have another vehicle avalable for personal use?. Yes No 47a Do you have evidence to support your deduction?. Yes No "Yes." is the evidence witen? Part V Other Expenses. List below business expenses not included on lines 8–26 or line 30. Yes No 48 Total other expenses. Enter here and on line 27a 48 Schedule CForm 1040) 2016

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