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Alexa owns a condominium near Cocoa Beach in Florida. This year, she incurs the following expenses in connection with her condo: Insurance $ 3,300 Mortgage

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

Insurance $ 3,300
Mortgage interest 6,750
Property taxes 4,250
Repairs & maintenance 640
Utilities 4,200
Depreciation 20,400

During the year, Alexa rented out the condo for 180 days. Alexas AGI from all sources other than the rental property is $200,000. Unless otherwise specified, Alexa has no sources of passive income. Assume that in addition to renting the condo for 180 days, Alexa uses the condo for eight days of personal use. Also assume that Alexa receives $40,250 of gross rental receipts. Answer the following questions: (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.)

a. What is the total amount of for AGI deductions relating to the condo that Alexa may deduct in the current year? Assume she uses the IRS method of allocating expenses between rental and personal days.

Gross rental income

Expenses:

Insurance

Mortgage interest

Property taxes

Repairs & maintenance

Utilities

Depreciation

Total expenses

Balancenet rental income

Total for AGI deductions

b. What is the total amount of from AGI deductions relating to the condo that Alexa may deduct in the current year? Assume she uses the IRS method of allocating expenses between rental and personal days.

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