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Dillon rented his personal residence at Lake Tahoe for 1 4 days while he was vacationing in Ireland. He resided in the home for the
Dillon rented his personal residence at Lake Tahoe for days while he was vacationing in Ireland. He resided in the home for the remainder of the year. Rental income from the property was $ Expenses associated with use of the home for the entire year were as follows:
Real property taxes $
Mortgage interest
Repairs
Insurance
Utilities
Depreciation
b What effect does the rental have on Dillon's itemized deductions assuming he itemizes deductions before considering deductions associated with the home
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Anwer owns a rental home and is involved in maintaining it and approving renters. During the year, he has a net loss of $ from renting the home. His other sources of income during the year are a salary of $ and $ of longterm capital gains.
How much of Anwer's $ rental loss can he deduct currently if he has no sources of passive income?
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