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ACCT 3060 Income Tax Kelvin owns and lives in a duplex. He rents the other unit for $810 per month. He incurs the following expenses
ACCT 3060 Income Tax
Kelvin owns and lives in a duplex. He rents the other unit for $810 per month. He incurs the following expenses during the current year for the entire property:
Mortgage interest $ 7,800 Property taxes 2,240 Utilities 1,900 Fixed light fixture in rental unit 125 Fixed dishwasher in personal unit 310 Painted entire exterior 1,250 Insurance 2,500 Depreciation (entire structure) 7,000
How are the above income and expenses reported on Kelvin's tax return?
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