During the current year, 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 14 days during the year, generating a total gross income of $9,100. Requirement How does Kim report the income and deductions from the property? Since the condominium was rented for fewer than 15 days, and Kim used the condominium over 14 days during the year for personal purposes, it qualifies as Thus, Kim will report Kim may deduct the property taxes and if Kim chooses the condominium as her During the current year, Kim incurs the following expenses with respect to her beachfront condominium in Hawaii Click the icon to view the day During 2019, Kim used the condo - X Data Table s during the year, generating a total gross income of S9,100. Requirement How does Kim report the income a Item Amount Insurance 500 Since the condominium was rente Repairs and maintenance 700 days during the year for personal purposes, it qualifies as Interest on mortgage 3,000 Property taxes 1,000 property taxes and if Kim chooses the condominium Utilities 800 Depreciation 8,000 S During the current year, 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 14 days during the year, generating a total gross income of $9,100. Requirement How does Kim report the income and deductions from the property? Since the condominium was rented for fewer than 15 days, and Kim used the condominium over 14 days during the year for personal purposes, it qualifies as Thus, Kim will report Kim may deduct the property taxes if Kim chooses the condk a hobby and primarily personal a rental business Click to select your ans Answer a wash sale Clear All Check Answer ondominium in Hawaii income and deduct all expenses for AGI of 14 days during the year, generating a income and deduct all expenses for AGI, except property taxes and interest income and deduct all expenses from AGI. income and deduct all expenses from AGI, except property taxes and interest no income or deductions from the property, nover 14 days during the year for personal Kim may deduct the property taxos and if kim chooses the condominium as her During the current year, 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 14 days during the year, generating a total gross income of $9,100. Requirement How does Kim report the income and deductions from the property? Since the condominium was rented for fewer than 15 days, and Kim used the condominium over 14 days during the year for personal purposes, it qualifies as Thus, Kim will report Kim may deduct the property taxes Wand if Kim chooses the condominium as her for AGI from AGI Click to select your answer(s) and then click Check Answer rating a During the current year, 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 total gross income of $9,100. Requirement rental business, she also can deduct the interest for AGI. How does Kim report the income and de rental businoss, she also can deduct the interest from AGI. Since the condominium was rented for te second personal residence, she also can deduct the interest for AGI. purposes, it qualifies as second personal residence, she also can deduct the interest from AGI ir personal and if Kim chooses the condominium as her