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38) Janet owns a home at the lake. She incurs the following expenses: Mortgage interest $1300.00 Property taxes $ 800.00 Insurance $1500.00 Utilities $1800.00 Depreciation
38) Janet owns a home at the lake. She incurs the following expenses: Mortgage interest $1300.00 Property taxes $ 800.00 Insurance $1500.00 Utilities $1800.00 Depreciation $4000.00 What is the proper treatment of these expenses in each of the following cases? Use the Tax Court Allocation method, if applicable. Case Rental Income Days Rented Personal Use Days A $ 9000.00 45 10 B $12000.00 55 25 C $ 6000.00 10 30 D $22000.00 365 -0
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