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I can't figure out what to use for the rental figures....PLease help Comprehensive Problem 4-1 Rebecca and Walter Bunge have been married for 5 years.

I can't figure out what to use for the rental figures....PLease help

Comprehensive Problem 4-1

Rebecca and Walter Bunge have been married for 5 years. They live at 883 Scrub Brush Street, Apt. 52B, Las Vegas, NV 89125. Rebecca is a homemaker and Walt is a high school teacher. Rebecca's Social Security number is 222-43-7690 and Walt's is 700-01-0002. Walt's earnings from teaching are:

Earnings from Las Vegas School Dist. $50,400
Federal income tax withheld 5,000
State income tax withheld 0

The Bunges incurred the following expenses during their move from Maine to Nevada in January of 2015:

Cost of moving furniture $4,200
Travel (3,166 miles at $0.23) 728
Lodging en route 250
Meals en route 90
House-hunting trip before the move 750

You may assume that the taxpayers will meet the "must work at least 39 weeks at the new job location during the 12 months following the move" test.

Walter's previous job, as a high school teacher in Maine, was only 5 miles from his home. Rebecca was unemployed prior to the move.

The Bunges own a ski condo located at 123 Buncombe Lane, Brian Head, UT 84719. The condo was rented for 185 days during 2015 and used by the Bunges for 15 days. Pertinent information about the condo rental is as follows:

Rental income $16,000
Mortgage interest 8,800
Homeowners' association dues 5,000
Utilities 1,000
Maintenance 3,800
Depreciation (assume fully depreciated) 0

The above amounts do not reflect any allocation between rental and personal use of the condo. The Bunges are active managers of the condo.

Click here to access the tax table to use for this problem.

Required:

Complete the Bunge's federal tax return for 2015. Use Form 1040, Schedule E, and Form 3903 to complete their tax return.

If an amount box does not require an entry or the answer is zero, enter "0".

Note: If required, enter a "loss" as a negative number on the tax form. Do not enter deductions as negative numbers.

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