to deduct expenses the area used for business must ne used regularly and exclusively for at...

to deduct expenses the area used for business must ne used regularly and exclusively for at least one of the following reasons EXCEPT

a. as the place to conduct vendor calls and pay bills when not in the store

b. as a place to meet with customers

c. as the principal place of business

d. in connection with the business if it is a separate structure not attached to the home

Expert Solution

Correct Answer is option a. as the place to conduct vendor calls and pay bills when not in the store

Explanation:

Whether you're self-employed or a partner, you may be able to deduct certain expenses for the part of your home that you use for business.

To deduct expenses for business use of the home, you must use part of your home as one of the following:

1. Exclusively and regularly as your principal place of business for your trade or business.
2. Exclusively and regularly as a place where you meet and deal with your patients, clients, or customers in the normal course of your trade or business.
3. A separate structure that's not attached to your home used exclusively and regularly in connection with your trade or business.
4. On a regular basis for storage of inventory or product samples used in your trade or business of selling products. 5. at retail or wholesale.
6. For rental use. Or
7. As a daycare facility.

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