Mike, a self-employed photographer, uses 300 square feet of his 1,500 square foot home exclusively for
business. Mike had income of $20,000 from the business and expenses of $6,000 before considering the
following home office expenses:
Repairs to dark room
in his work space
$ 500
Property Taxes
$ 1,500
Mortgage Interest
$ 7,500
Insurance
$ 200
Home Repairs
$ 1,000
Utilities
$ 2,400
Depreciation
$ 3,840
What is Mike’s home office expense deduction for the current year?
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