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During 2019, Kim incurs the following expenses with respect to her beachfront condominium in Hawaii: (Click the icon to view the data.) During 2019, Kim
During 2019, Kim incurs the following expenses with respect to her beachfront condominium in Hawaii: (Click the icon to view the data.) 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. Read the requirements Item 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 "O for zero amounts.) For AGI From AGI Insurance Repairs and maintenance Interest on mortgage Property taxes Utilities Depreciation Total deductions Expense Item Amount $ 500 700 Insurance Repairs and maintenance Interest on mortgage Property taxes Utilities Depreciation 3,000 1,000 800 8,000
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