Alexa owns a condominium near Cocoa Beach in Florida. In $2022,$ she incurs the following expenses in connection with her condo:

Insurance $ $2,000$

Mortgage interest $6,500$

Property taxes $2,000$

Repairs & maintenance $1,400$

Utilities $2,500$

Depreciation $14,500$

During the year, Alexa rented out the condo for $100$ days. She did not use the condo at all for personal purposes during the year. Alexa's AGI from all sources other than the rental property is $$200,000.$ Unless otherwise specified, Alexa has no sources of passive income.

Assume Alexa receives $$30,000$ in gross rental receipts.

Required:

What effect do the expenses associated with the property have on her AGI?

What effect do the expenses associated with the property have on her itemized deductions?