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Donald rents out his vacation home for 9 months and lives in his vacation home for the remainder of the year. His gross rental income
Donald rents out his vacation home for 9 months and lives in his vacation home for the remainder of the year. His gross rental income for 2019 is $7,200. The expenses attributable to the vacation home for the entire year are as follows:
Real estate taxes | $2,000 |
Interest on mortgage loan | 4,000 |
Utilities | 1,200 |
Repairs/maintenance | 600 |
Depreciation | 3,500 |
What amount would Donald report as net income or loss from the rental of the vacation home?
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