2. What if Rebecca has gross rental receipts of $10,000 and rented out the condo for the entire year. She does not have any personal use of the condo. Rebecca makes the rental decisions such as approving new tenants and repairs.

2(a). Calculate her net rental income or loss this year. How does the net rental income or loss affect her AGI this year? (4-points)

2(b). How much of the mortgage interest and property taxes can she deduct on the Schedule-A of form 1040, if any? (4-points)