Natalie owns a condominium near Cocoa Beach in Florida. This year, she incurs the following expenses in connection with her condo: Insurance $1,480 575 4,850 1,230 Advertising expense Mortgage interest Property taxes Repairs & maintenance Utilities Depreciation 580 650 9,500 During the year, Natalie rented out the condo for 86 days, receiving $24.750 of gross income. She personally used the condo for 47 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.) a. What is the total amount of for AGI (rental) deductions Natalie may deduct in the current year related to the condo (assuming she itemizes deductions before considering deductions associated with the condo)? For AGI deductions Natalie owns a condominium near Cocoa Beach in Florida. This year, she incurs the following expenses in connection with her condo: Insurance $1,480 575 Advertising expense Mortgage interest Property taxes Repairs&maintenance Utilities 4,850 1,230 580 650 9,500 Depreciation During the year, Natalie rented out the condo for 86 days, receiving $24,750 of gross income. She personally used the condo for 47 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? The following information applies to the questions displayed below. Natalie owns a condominium near Cocoa Beach in Florida. This year, she incurs the following expenses in connection with her condo: $1,480 575 4,850 1,230 580 650 9,500 Insurance Advertising expense Mortgage interest Property taxes Repairs&maintenance Utilities Depreciation During the year, Natalie rented out the condo for 86 days, receiving $24,750 of gross income. She personally used the condo for 47 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.) c. If Natalie's basis in the condo at the beginning of the year was $162,000, what is her basis in the condo at the end of the year? Basis in the condo Natalie owns a condominium near Cocoa Beach in Florida. This year, she incurs the following expenses in connection with her condo: Insurance $1,480 575 4,850 1,230 580 Advertising expense Mortgage interest Property taxes Repairs&maintenance Utilities 650 Depreciation 9,500 During the year, Natalie rented out the condo for 86 days, receiving $24,750 of gross income. She personally used the condo for 47 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.) durtestme thotlgteoss rental revenue was $2.950 rather than 524750) What amount of for AGI deductions may Natlie deduct in the r AGI deductions
