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Dillon rented out his home for 9 days during the year for $6,000. He resided in the home for the remainder of the year. Expenses
Dillon rented out his home for 9 days during the year for $6,000. He resided in the home for the remainder of the year. Expenses associated with use of the home for the entire year were as follows:
Real property taxes | $ | 2,950 |
Mortgage interest | 11,875 | |
Repairs | 1,275 | |
Insurance | 1,450 | |
Utilities | 4,800 | |
Depreciation | 12,000 | |
Dillon's AGI is $134,515 before considering the effect of the rental activity. His AGI after considering the tax effect of the rental use of his home is $ ._______________
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