Question
During 2019, Kim incurs the following expenses with respect to her beachfront condominium in Hawaii. Expense Item Amount Insurance $500 Repairs and maintenance 700 Interest
During 2019, Kim incurs the following expenses with respect to her beachfront condominium in Hawaii.
Expense Item Amount
Insurance $500
Repairs and maintenance 700
Interest on mortgage 3,000
Property taxes 1,000
Utilities 800
Depreciation 8,000
During 2019, Kim used the condominium 20 days for vacation. She rented it out for a total of 60 days, generating a total gross income of $9,100.
.Requirement a. What are the total amounts of deductions for and from AGI that Kim 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 "0 for zero amounts.)
| Item | For AGI | From AGI |
|---|---|---|
| Insurance |
|
|
| Repairs and maintenance |
|
|
| Interest on mortgage |
|
|
| Property taxes |
|
|
| Utilities |
|
|
| Depreciation |
|
|
| Total deductions |
|
|
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