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Bill rents his house out for 21 days during the year, and lives in it for 7 days during the year. The rent for the
Bill rents his house out for 21 days during the year, and lives in it for 7 days during the year. The rent for the 21 days is $10,000. He has no mortgage, but does have property taxes of $1,200 for the whole year. The utilities and maintenance for the year is $6,000. Depreciation for the entire year would be $5,000. How much income or loss will he have to include on his 2015 tax return?
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