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Assume Tamar uses the IRS method of allocating expenses to rental use of the property. Required: a. What is the total amount of for AGI
Assume Tamar uses the IRS method of allocating expenses to rental use of the property. Required: a. What is the total amount of for AGI (rental) deductions Tamar may deduct in the current year related to b. What is the total amount of itemized deductions Tamar may deduct in the current year related to the c c. If Tamar's basis in the condo at the beginning of the year was $150,000, what is her basis in the conde d. Assume that gross rental revenue was $2,000 (rather than $10,000). What amount of for AGI deductic current year related to the condo (assuming she itemizes deductions before considering deductions a e. Assuming that gross rental revenue was $2,000 (rather than $10,000) and that Tamar's itemized dedu- before considering property taxes allocated to rental use of the property, what amount of for AGI dedu the current year related to the condo? Note: For all requirements, do not round apportionment ratio. Round all other dollar values to the near- a. For AGI (rental) deductions b. Itemized deductions c. Basis at the end of the year d. For AGI deductions e. For AGI deductions
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