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Janet owns a home at the lake She incurs the following expenses: Mortgage Interest $ 1,640 Property taxes 970 Insurance 1,255 Utilities 2,055 Repairs 385
Janet owns a home at the lake She incurs the following expenses: Mortgage Interest $ 1,640 Property taxes 970 Insurance 1,255 Utilities 2,055 Repairs 385 Depreciation 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, applicable (Round your intermediate computations to 5 decimal places and final answers to nearest whole dollar value). Rental Days Personal Case Income Rented Use Days $ 9,850 10 12,850 55 25 6,850 le 0 22,050 365 B 30 Care B Schedule $ 9,850 Sch. A No Deduction Sch. ANO Deduction Schedule 12.850 0 Schedule $ 22,850 income Mortgage into Property taxes Insurance Us Regar Depreciation Rental income 9.850 12350 22850
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