Alexa owns a condominium near Cocoa Beach in Florida. This year, she incurs the following expenses in connection with her condo: 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 5200,000. Unless otherwise specified. Alexa has no sources of passive income. Assume there are 365 days in the year. Assume Alexa receives $30,000 in gross rental receipts. 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? Assuming Alexa receives $20,000 in gross rental receipts, answer the following questions: What effect does the rental activity have on her AGI for the year? Assuming that Alexa s AGI from other sources is $90,000 what effect does the rental activity have on Alexas AGI? Alexa makes all decisions with respect to the property. Assuming that Alexa's AGI from other sources is $120,000 what effect does the rental activity have on Alexa's AGI? Alexa makes all decisions with respect to the property. Assume that Alexa's AGI from other sources is $200,000 This consists of $50,000 salary. $10,000 of dividends, and $25,000 of long-term capital gain and net rental income from another rental property in the amount of $15,000 what effect does the Cocoa Beach Condo rental activity have on Alexa's AGI? Assume that in addition to renting the condo for 100 days, Alexa uses the condo for 8 days of personal use. Also assume that Alexa receives $30,000 of gross rental receipts. Answer the following questions: 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. What is the total amount of from AGI deductions relating to the condo that Alexa may deduct in the current year? Alexa owns a condominium near Cocoa Beach in Florida. This year, she incurs the following expenses in connection with her condo: 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 5200,000. Unless otherwise specified. Alexa has no sources of passive income. Assume there are 365 days in the year. Assume Alexa receives $30,000 in gross rental receipts. 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? Assuming Alexa receives $20,000 in gross rental receipts, answer the following questions: What effect does the rental activity have on her AGI for the year? Assuming that Alexa s AGI from other sources is $90,000 what effect does the rental activity have on Alexas AGI? Alexa makes all decisions with respect to the property. Assuming that Alexa's AGI from other sources is $120,000 what effect does the rental activity have on Alexa's AGI? Alexa makes all decisions with respect to the property. Assume that Alexa's AGI from other sources is $200,000 This consists of $50,000 salary. $10,000 of dividends, and $25,000 of long-term capital gain and net rental income from another rental property in the amount of $15,000 what effect does the Cocoa Beach Condo rental activity have on Alexa's AGI? Assume that in addition to renting the condo for 100 days, Alexa uses the condo for 8 days of personal use. Also assume that Alexa receives $30,000 of gross rental receipts. Answer the following questions: 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. What is the total amount of from AGI deductions relating to the condo that Alexa may deduct in the current year
