Question
Natalie owns a condominium near Cocoa Beach in Florida. This year, she incurs the following expenses in connection with her condo: Insurance $700 Advertising expense
Natalie owns a condominium near Cocoa Beach in Florida. This year, she incurs the following expenses in connection with her condo:
Insurance | $700 | |
Advertising expense | 925 | |
Mortgage interest | 5,600 | |
Property taxes | 1,430 | |
Repairs & maintenance | 740 | |
Utilities | 910 | |
Depreciation 12,850 During the year, Natalie rented out the condo for 92 days, receiving $33,000 of gross income. She personally used the condo for 40 days during her vacation.
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