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Alicia and Marie own a vacation home at the beach. During the year, they rented the house for 42 days ( 6 weeks) at $920
Alicia and Marie own a vacation home at the beach. During the year, they rented the house for 42 days ( 6 weeks) at $920 per week and used it for personal use for 58 days. The total costs of maintaining the home are as follows: Required: a. What is the proper tax treatment of this information on their tax return using the Tax Court method? Note: Use 365 days in a year. Round your intermediate computations to 5 decimal places and final answers to nearest whole dollar value
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