Question
Careen owns a condominium near Newport Beach in California. This year, she incurs the following expenses in connection with her condo: Insurance $1,500 Mortgage interest
Careen owns a condominium near Newport Beach in California. This year, she incurs the following expenses in connection with her condo: Insurance $1,500 Mortgage interest 8,500 Property taxes 4,000 Repairs 950 Utilities 1,900 Depreciation 5,500 During the year, Careen rented the condo for 90 days, receiving $20,000 of gross income. She personally used the condo for 50 days. Assuming Careen uses the IRS method of allocating expenses to rental use of the property. What is Careen's net rental income for the year? (Points : 4) ($2,350) $0 $3,669 $5,633 $10,586 $14,489
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