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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 Advertising expense Mortgage
Natalie owns a condominium near Cocoa Beach in Florida. This year, she incurs the following expenses in connection with her condo: Insurance Advertising expense Mortgage interest Property taxes Repairs & maintenance Utilities Depreciation 6,100 1,490 630 520 10,000 During the year, Natalie rented out the condo for 95 days, receiving $18,000 of gross income. She personally used the condo for 42 days during her vacation. Assume Natalie uses the Tax Court method of allocating expenses to rental use of the property. Assume 365 days in the current year. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) b. What is the total amount of itemized deductions Natalie may deduct in the current year related to the condo
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