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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 2018 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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