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2-) John has a rental property that has rental income of $22,000 and operating expenses of Mortgage Interest of $8,000, Real Estate Taxes of $4,000, Insurance on the property of $2,000, Gardening Expenses of $1,000, Utilities of $3,000, and Depreciation Expense of $4,000.

The property was rented for 110 days at fair market value and John had 20 personal use days of this property during the year.

If this is a vacation rental use the Court method to calculate the percentage used for allowable operating expenses. Round to the nearest decimal (i.e. 9.55% round to 10% and 9.45% round to 9%).

a-) Calculate the total use days for this property.

b-)Using the IRS and Court Method calculate the percentage used for deducting the operating expenses.

c-)Calculate the net rental income/loss.

d-)Summarize any itemized deductions which John might have from this property.