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Alice rented her personal residence for 9 days to summer vacationers for $5,000. She has AGI of $113,500 before the rental income. Related expenses for
Alice rented her personal residence for 9 days to summer vacationers for $5,000. She has AGI of $113,500 before the rental income. Related expenses for the year include the following:
| Real property taxes | $ 4,540 |
| Utilities | 6,000 |
| Insurance | 1,000 |
| Mortgage interest | 8,000 |
| Repairs | 970 |
| Depreciation | 19,500 |
a. What is the net rental income includible in AGI?
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