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PIper owns a vacation cabin In the Tennessee mountalns. Without considering the cabin, she has gross Income of $65,000. During the year, she rents the
PIper owns a vacation cabin In the Tennessee mountalns. Without considering the cabin, she has gross Income of $65,000. During the year, she rents the cabin for two weeks for $2,500 and uses It herself for four weeks. The total expenses for the year are $10,o00 mortgage Interest; $1,500 property tax; $2,000 utilities, Insurance, and malntenance; and $3,200 depreclation. If an amount is zero, enter " 0 ". a. What effect does the rental of the vacation cabin have on Piper's AGI? Piper reports rental Income of 4 and rental expenses of $ for AGI. b. What expenses can PIper deduct, and how are they classifled (I.e., for or from AGI)? Note: Assume that she Itemizes her deductions
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