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Matt and Marie own a vacation home at the beach. During the year, they rented the house for 42 days (6 weeks) at $985 per
Matt and Marie own a vacation home at the beach. During the year, they rented the house for 42 days (6 weeks) at $985 per week and used it for personal use for 58 days. The total costs of maintaining the home are as follows: Mortgage interest Property taxes Insurance Utilities Repairs Depreciation $ 4,580 890 1,485 3,485 1,995 5,880 Required: a. What is the proper tax treatment of this information on their tax return using the Tax Court method? (Round your intermediate computations to 5 decimal places and final answers to nearest whole dollar value.) Schedule E Schedule A Income Mortgage interest Property taxes Insurance Utilities Repairs Depreciation Net income GA 0
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