Nana Is a Self-Employed Consultant

question 86

Multiple Choice

Nana is a self-employed consultant.For the past five years,she has used an extra bedroom (15% of the house) in her home as a qualifying home office and deducted $9,000 of depreciation expense.This year she sells the house for $740,000.The house cost $500,000.Nana is single.She will recognize gain on the sale of the house of

• A)$0.
• B)$9,000.
• C)$45,000.
• D)$249,000.

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Definitions:

Business Meeting

A gathering of individuals within or across organizations to discuss business-related matters and make decisions.

Cell Phone

A portable telephone that can make and receive calls over a radio frequency link while the user is moving within a telephone service area.

Workplace Conversations

Informal dialogues that occur between colleagues within a professional environment on a variety of topics.

Social Situations

Refers to scenarios or contexts where individuals interact with one another within a society.