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During the current Year, Kiera incurs the following expenses with respect to her beachfront condominium in Hawaii. Insurnace- $600, Repairs and Maint. $600, Interest on

During the current Year, Kiera incurs the following expenses with respect to her beachfront condominium in Hawaii.

Insurnace- $600, Repairs and Maint. $600, Interest on Mortgage $4000, Property Taxes $2200, Utilities $1400

In adddition to the expenses listed above, Kiera could have deducted a total of $8,400 depreciation if the property had been acquired only for investment purposes. During the year, Kiera uses the condominium 20 days for vacation. She also rented it out for a total of 80 days during the year, generating a total gross income of $8,600.

A. What is the total amount of deductions for and from AGI that Kiera may take during the current year with respect to teh condominium?

Item For AGI From AGI
Insurance
Repairs and Maint.
Interest on Mortgage
Property Taxes
Utilities
Depreciaation
Total Deductions:

B. What is the effect on the basis of the condominium.

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