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How much can jack deduct as a business-use-of-home expense

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Reference no: EM133097336

Question - Jack operates an accounting practice out of the spare bedroom in his 8-room house. This room is jack's principal place of business and it is used exclusively for business purposes. Last year, jack paid $600 for home insurance, $1400 in utilities, $2,400 in property tax, $5,600 in mortgage principal and $8,900 in mortgage interest. He does not claim capital cost allowance. How much can Jack deduct as a business-use-of-home expense?

Reference no: EM133097336

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