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Lester rents his vacation home for 6 months and lives in the home during the other 6 months of 2015. The gross rental income from
Lester rents his vacation home for 6 months and lives in the home during the other 6 months of 2015. The gross rental income from the home is $4,500. For the entire year, real estate taxes are $800, interest is $3,000, utilities and maintenance expenses are $2,200, and depreciation expense on the entire home would be $4,000. What is Lester's allowable net loss from renting his vacation home? a$3,000 loss b$5,500 loss c$250 loss dNone of these choices are correct.
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