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Kim incurs the following expenses with respect to her beachfront condominium in Hawaii Insurance: $500 Repairs: $700 Interest on mortgage: $3000 Property taxes: $1000 Utilities:

Kim incurs the following expenses with respect to her beachfront condominium in Hawaii

Insurance: $500

Repairs: $700

Interest on mortgage: $3000

Property taxes: $1000

Utilities: $800

Depreciation: $8000

Kim used the condominium 20 days for vacation. She rented it out for a total of 60 days, generating a total gross income of $9,100

A. What are the total amounts of deductions for and from AGI that Kim may take during the year with respect to the condominium using the IRS allocation method?

B. What is the effect on the basis of the condominium?

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