(d) Because Park City is primarily a winter ski resort, few condo renters can be found in...
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(d) Because Park City is primarily a winter ski resort, few condo renters can be found in the off season;
therefore, Elizabeth is concerned about qualifying to deduct rental losses. Assuming she could rent the condo for $400 per day, summarize the IRS-approved rental alternative she could use to generate some tax-free income. Calculate the maximum amount of money Elizabeth could obtain using that plan.
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