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Please answer all the wuestions correctly. Thank you in advance. Problem 4-10 Rental income and Expenses (LO 4,7) Sherry rents her vacation home for 6

Please answer all the wuestions correctly. Thank you in advance.
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Problem 4-10 Rental income and Expenses (LO 4,7) Sherry rents her vacation home for 6 months and lives in it for 6 months during the year. Her gross rental income during the year is $6,000. Total real estate taxes for the home are $2,200, and interest on the home mortgage is $4,000. Annual utilities and maintenance expenses total $2,000, and depreciation expense is $4,500. Calculate Sherry's deductible depreciation, the net income or loss from the vacation home, and the loss carryforward, if any. Base allocation on number months, rather than days. If your answer value is zero, enter "0". Rental Income Expenses: Real estate taxes Mortgage interest Utilities and maintenance Depreciation Net rental income Loss carried forward to 2022 sok roblem 4-13 let Operating Losses (L04.9) Ther, a single taxpayer, generates business income of $3,000 in 2016. In 2017, he generates an NOL of $2,000. In 2018, he incurs another NOL of $5,000. In 2019, he generates a modest business income of $6,000 and then in 2020, the COVID-19 pandemic results in an NOL of $13,000. In 2021, Tyler's business generates income of $13,000. Assume that in all years, Tyler adopts the NOL treatment that results in the earliest and greatest refund. Provide a chronological analysis of Tyler's treatment of NOLs through 2021 and report any NOL carryforward into 2022. In 2017, Tyler his $2,000 NOL against his income leaving $ of 2016 income In 2018, Tyler the NOL to NOL and he has a s carryforward from in 2019, Tyler can offset of his 2019 income with the 2018 NOL in 2021 In 2020, the COVID-19 provisions allows him to carryback to He can now use all of the remaining & loss against the 2019 income and then can use anothers of 2020 NOL against the remaining 2019 income. The remainings from 2020 may be carried forward into 2021. Aner 2020, NOLS are subject to the 80% Income limitation Tyler will be able to use and have a s NOL to carryforward into 2022

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