Carmen owns a house that she rents out for $600 per month. Her expenses 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-line depreciation with a 27 -year life, so the depreciation on the house is $4,000. Calculate Carmens net income or loss from renting the house if her gross rental income is $7,200 ($600 12 months).