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Dillon rented his personal residence at Lake Tahoe for 14 days while he was vacationing in Ireland. He resided in the home for the remainder
| Dillon rented his personal residence at Lake Tahoe for 14 days while he was vacationing in Ireland. He resided in the home for the remainder of the year. Rental income from the property was $6,200. Expenses associated with use of the home for the entire year were as follows: |
| Real property taxes | $ | 3,050 |
| Mortgage interest | 12,125 | |
| Repairs | 1,325 | |
| Insurance | 1,510 | |
| Utilities | 5,040 | |
| Depreciation | 12,400 | |
| a. | What effect does the rental have on Dillons AGI |
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| b. | What effect does the rental have on Dillons itemized deductions?
Itemizable real property taxes Itemizable mortgage interest
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