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Kelvin owns and lives in a duplex. He rents the other unit for $ 8 4 0 per month. He incurs the following expenses during
Kelvin owns and lives in a duplex. He rents the other unit for $ per month. He incurs the following expenses during the current year for the entire property:
Mortgage interest $
Property taxes
Utilities
Fixed light fixture in rental unit
Fixed dishwasher in personal unit
Painted entire exterior
Insurance
Depreciation entire structure
Required:
How are the above income and expenses reported on Kelvins tax return?
Note: Enter Schedule E expense as a negative number.
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