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Adelene, who lives in a winter resort area, rented her personal residence for 14 days while she was visiting Brussels. Rent income was $5,000.
Adelene, who lives in a winter resort area, rented her personal residence for 14 days while she was visiting Brussels. Rent income was $5,000. Related expenses for the year were as follows: Real property taxes Mortgage interest Utilities Insurance Repairs Depreciation $3,800 7,500 3,700 2,500 2,100 15,000 If an answer is zero, enter "0". a. Determine how much of the rental income is reportable. $ b. Determine whether the expenses are deductible. Select "Yes" if deductible otherwise select "No". Depreciation Real property taxes Repairs Utilities Mortgage interest Insurance c. Determine the effect the rental activity has on Adelene's AGI. $
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