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Anna rented her vacation home for 30 days, used it personally for 20 days, and left it vacant for 315. For each of the
Anna rented her vacation home for 30 days, used it personally for 20 days, and left it vacant for 315. For each of the below revenues and expenses, indicate how it would be treated for tax purposes: Gross Income of $7,000: How much of the following can she deduct as rental expenses (round any percentages in your calculations to two decimal places)? Property Taxes of $2,500: Mortgage Interest of $9,000: Utilities of $2,400: What is Anna's net rental income/(loss) recognized: Assume she used the residence for 13 days instead of 20, what is her net rental income/(loss) using the above revenue and expenses: of Under this new scenario how much of the mortgage interest can Anna itemize?
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