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Natalie owns a condominium near Cocoa Beach in Florida. This year, she incurs the following expenses in connection with her condo: Insurance $ 1,000 Advertising

Natalie owns a condominium near Cocoa Beach in Florida. This year, she incurs the following expenses in connection with her condo:

Insurance $ 1,000
Advertising expense 500
Mortgage interest 3,500
Property taxes 900
Repairs and maintenance 650
Utilities 950
Depreciation 8,500

During the year, Natalie rented out the condo for 75 days, receiving $10,000 of gross income. She personally used the condo for 35 days during her vacation. Assume there are 365 days in the year.

d. Assume that gross rental revenue was $1,000 (rather than $10,000). What amount of for AGI deductions may Natalie deduct in the current year related to the condo?

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