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A taxpayer with two rental houses accounts for and/or spends the following during the year: $8,000 in depreciation deductions $7,000 in mortgage interest on the
A taxpayer with two rental houses accounts for and/or spends the following during the year: $8,000 in depreciation deductions $7,000 in mortgage interest on the properties $3,500 in real estate taxes $4,000 in fire and home insurance premiums, equally covering the tax year and one year beyond $2,500 in repairs and maintenance How much in rental expenses do they have for the year?
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
