Matt and Marie own a cabin in Lake Tahoe. They spent 45 days there and rented it for 88 days at $150 per day during the year. The total costs relating to the home include the following: Mortgage interest Property taxes Insurance Utilities Repairs Depreciation $ $ $ $ $ $ 4,500 1,200 1,800 2,300 1,500 6,500 1. What is their rental income using the IRS method? 2. What is their rental income using the Tax Court method? Matt and Marie own a cabin in Lake Tahoe. They spent 45 days there and rented it for 88 days at $150 per day during the year. The total costs relating to the home include the following: Mortgage interest Property taxes Insurance Utilities Repairs Depreciation $ $ $ $ $ $ 4,500 1,200 1,800 2,300 1,500 6,500 1. What is their rental income using the IRS method? 2. What is their rental income using the Tax Court method