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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: $ 3,100 Insurance
Natalie owns a condominium near Cocoa Beach in Florida. This year, she incurs the following expenses in connection with her condo: $ 3,100 Insurance Advertising expense Mortgage interest Property taxes Repairs and maintenance 665 5,600 1,950 1,700 2,000 11,650 Utilities Depreciation During the year, Natalie rented out the condo for 86 days, receiving $20,500 of gross income. She personally used the condo for 45 days during her vacation. Assume there are 365 days in the year. Assume Natalie uses the Tax Court method of allocating expenses to rental use of the property. (Do not round intermediate calculations. Round your final answer to the nearest whole dollar amount.) a. What is the total amount of for AGI (rental) deductions Natalie may deduct in the current year related to the condo? a. What is the total amount of for AGI (rental) deductions Natalie may deduct in the current year related to the condo? Answer is complete but not entirely correct. For AGI deductions $ 17,733 d. Assume that gross rental revenue was $4,100 (rather than $20,500). What amount of for AGI deductions may Natalie deduct in the current year related to the condo? O Answer is complete but not entirely correct. For AGI deductions $ 1,521
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