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Janet owns a home at the lake. She incurs the following expenses: Mortgage interest Property taxes Insurance Utilities Repairs Depreciation $1,640 970 1,255 2,055
Janet owns a home at the lake. She incurs the following expenses: Mortgage interest Property taxes Insurance Utilities Repairs Depreciation $1,640 970 1,255 2,055 385 4,340 Required: What is the proper treatment of the rental income and expenses in each of the following cases? Use the Tax Court allocation method, if applicable. (Round your intermediate computations to 5 decimal places and final answers to nearest whole dollar value). Days Rented 45 55 Rental Personal Use Days 10 25 30 Case Incone $ 9,850 12,850 A 22,05e 365 Case Schedule E Sch. ANo Deduction Schedule E 12850 Sch. ANo Deduction Schedule E income Mongage interest Property taes 9,850 22050 Inaurance Ues Repairs Dipreciation Rental income 12.850 22.850
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