Carmen owns a house that she rents out for $600 per month. Her eInsurance $300xpenses for the 2015 tax year are as follows:

Real estate taxes $900, Mortgage interest, $4,000, Insurance $300, General repairs $320. Carmen bought the property in March of 1992, and her basis for depreciation on the house is $110,000. She uses straight-time depreciation with a 27 1/2 year life, so the depreciation on the house $4000. Calculate Carmen's net income or loss from renting the house if her gross rental income is $7,200. Use schedule E