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Mary owns a vacation home in the Poconos. She used the vacation home for 12 days and rented it for 48 days in 2023.Total rents
Mary owns a vacation home in the Poconos. She used the vacation home for 12 days and rented it for 48 days in 2023.Total rents received were $5,200. Expenses for the rental amounted to $5,200 mortgage interest expense, $600 property taxes, $1,225 utilities, $420 repairs, and $2,400 depreciation (based on the total cost of home). Calculate the amount of net rental income or loss and calculate the amount of expenses that are deductible for personal usage.(2 points)
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