Jamison Is Self-Employed and He Works Out of an Office

question 75

Multiple Choice

Jamison is self-employed and he works out of an office in his home.After allocating the home-related expenses between the business office and the rest of the home,which of the following statements regarding the sequence of deductibility of the expenses allocated to the home office business use is correct (Jamison does not use the simplified method for determining the home office expense deduction) ?

• A) Depreciation expense, other expenses, property taxes and interest expense.
• B) Other expenses, depreciation expense, property taxes and interest expense.
• C) Property taxes and interest expense, other expenses, depreciation expense.
• D) Other expenses, property taxes and interest expense, depreciation expense.
• E) None of these statements is correct.

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Definitions:

Sinus

Cavities or air spaces within the bones of the skull and face that are connected to the nasal cavities, playing roles in respiration and the production of mucus.

Tubercle

A small rounded projection or nodule, especially one that is part of the structure of a bone.

Genu Valgum

A medical condition characterized by the inward angulation of the knees, commonly referred to as "knock-knees."

Genu Varum

A condition characterized by the outward bowing of the legs, commonly referred to as "bowlegs."