Question
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
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 & 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.
Download the Tax Form and enter the required values in the appropriate fields. Please open the Adobe acrobat document in 'Web Layout' mode. Save your completed Tax Form to your computer and then upload it here by clicking "Browse." Next, click "Save." (Using the original facts, complete Natalies Form 1040, Schedule E for this property.) Pleaase use a 2014 1040 schedule E
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