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In 2020, Joan Cannon incurred the following expenses relating to her vacation home: Mortgage interest $6,000 Property taxes 4,000 Utility expenses 4,000 Depreciation 6,000 Total
In 2020, Joan Cannon incurred the following expenses relating to her vacation home: Mortgage interest $6,000 Property taxes 4,000 Utility expenses 4,000 Depreciation 6,000 Total expenses $20,000 During 2020, Joan personally used the vacation home for 20 days. What is the rental loss deduction that she is entitled to claim on her 2020 tax return? Use the Tax Court method of allocating nonnal expenses allowable to all taxpayers. Please state your answer as a whole number, no comma, no decimal, no dollar sign. a. Joan rents out the vacation home for 10 days during the year and receives $800 in rental income. b. Joan rents out the vacation home for 30 days during the year and receives $1,500 in rental income. c. Joan rents out the vacation home for 230 days during the year and receives $9,000 in rental inco1ne. A In 2020, Joan Cannon incurred the following expenses relating to her vacation home: Mortgage interest $6,000 Property taxes 4,000 Utility expenses 4,000 Depreciation 6,000 Total expenses $20,000 During 2020, Joan personally used the vacation home for 20 days. What is the rental loss deduction that she is entitled to claim on her 2020 tax return? Use the Tax Court method of allocating nonnal expenses allowable to all taxpayers. Please state your answer as a whole number, no comma, no decimal, no dollar sign. a. Joan rents out the vacation home for 10 days during the year and receives $800 in rental income. b. Joan rents out the vacation home for 30 days during the year and receives $1,500 in rental income. c. Joan rents out the vacation home for 230 days during the year and receives $9,000 in rental inco1ne. A
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