Business, 24.04.2020 18:32 prestontu8883
Dillon rented his personal residence at Lake Tahoe for 14 days while he was vacationing in Ireland. He resided in the home for the remainder of the year. Rental income from the property was $4,900. Expenses associated with use of the home for the entire year were as follows:
Real property taxes $ 2,400
Mortgage interest 10,500
Repairs 1,000
Insurance 1,120
Utilities 3,480
Depreciation 9,800
a. What effect does the rental have on Dillonâs AGI
b. What effect does the rental have on Dillonâs itemized deductions?
Answers: 1
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Dillon rented his personal residence at Lake Tahoe for 14 days while he was vacationing in Ireland....
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