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Kelvin owns and lives in a duplex. He rents the other unit for $830 per month. He incurs the following expenses during the current year
Kelvin owns and lives in a duplex. He rents the other unit for $830 per month. He incurs the following expenses during the current year for the entire property:
Mortgage interest | $ | 7,900 | |
Property taxes | 2,320 | ||
Utilities | 2,020 | ||
Fixed light fixture in rental unit | 135 | ||
Fixed dishwasher in personal unit | 330 | ||
Painted entire exterior | 1,310 | ||
Insurance | 2,700 | ||
Depreciation (entire structure) | 7,200 | ||
|
How are the above income and expenses reported on Kelvins tax return?
personal | schedule A | schedule E | |
INCOME | ? | ||
MORTGAGE INTEREST | ? | ? | ? |
PROPERTY TAXES | ? | ? | ? |
UTILITIES | ? | ? | |
FIX LIGHT RENTAL | ? | ||
FIX DISHWASHER | ? | ||
PAINT EXTERIOR | ? | ? | |
INSURANCE | ? | ? | |
DEPRECIATION | ? | ? | |
$ 0 |
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