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During 2019, Katrina incurs the following expenses with respect to her beachfront condominium in Hawaii: (Click the icon to view the data.) During 2019, Katrina

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During 2019, Katrina incurs the following expenses with respect to her beachfront condominium in Hawaii: (Click the icon to view the data.) During 2019, Katrina used the condominium 20 days for vacation. She rented it out for a total of 80 days, generating a total gross income of $8,000. Read the requirements? Requirement a. What are the total amounts of deductions for and from AGI that Katrina may take during 2019 with respect to the condominium using the IRS allocation method? (For purposes of this problem, use the allocation formula set forth by Sec. 280A. Enter "O for zero amounts.) Item For AGI From AGI Insurance Repairs and maintenance Interest on mortgage Property taxes Utilities Depreciation Total deductions Requirement b. What is the effect on the basis of the condominium? The basis of the condominium is (1) 1: More Info Expense Item Amount Insurance $ 440 720 2,800 Repairs and maintenance Interest on mortgage Property taxes Utilities Depreciation 2,200 1,400 8,800 2: Requirements a. What are the total amounts of deductions for and from AGI that Katrina may take during 2019 with respect to the condominium using the IRS allocation method? What is the effect on the basis of the condominium? b

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