Please answer all questions.

D) Other expenses, property taxes and interest expense, depreciation expense E) None of these statements is correct 30.Brady owns a second home that he rents to others. During the year, he used the second home for 50 days for personal use and for 100 days for rental use. Brady the year. Brady allocated $7,000 of other expenses, and $4,000 of collected $20,000 of rental receipts interest expense and property taxes, $10 depreciation expense to the rental use. What is Brady's net income from the and what type and amount of expenses will he carry forward to next year any? A) $0 net income. $1,000 depreciation expense carried forward to next year B) ($1,000) net loss. $O expenses carried over to next year C) $0 net income. $1,000 of other expense carried over to next year D) S0 net income. $1,000 of interest expense and property taxes carried over to next year 31.Katy owns a second home. During the year, she used the home for 20 personal use days and 50 rental days. Katy allocates expenses associated between rental use and personal use. Katy did not incur any expenses to obtain tenants. Which of the following statements is correct regarding tax treatment of Katy's income and expenses from the home? A) Katy includes the rental receipts in gross income and deducts expenses allocated to the rental use of the home for AGI the home not B) Katy deducts from AGI interest expense and property taxes associated with allocated to the rental use of the home. C) Assuming Katy's rental receipts exceed the interest expense and property taxes allocated to the rental use, Katy's deductible expenses for the year may not exceed the amount of her rental receipts (She may not report a Loss from the rental property) D) All of these statements are Correct 32.Kenneth lived in his home for the entire year except for when he rented his home (near a very / nice ski resort) to a married couple for 14 days in December. The couple paid Kenneth $14,000 in rent for the two weeks. Kenneth incurred $1,000 in direct expenses relating to the home for the 14 days. Which of the following statements accurately describes the manner in which Kenneth should report his rental receipts and expenses for tax purposes. A) Kenneth would include rental receipts in gross income and deduct rental expenses for AGI B) Kenneth would exclude the rental receipts from gross income and deduct the rental expenses for AG