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please answer Darren and Nikki own a cabin in Mammoth, California. During the year, they rented it for 45 days for $10,400 and used it
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Darren and Nikki own a cabin in Mammoth, California. During the year, they rented it for 45 days for $10,400 and used it for 12 days for personal use. The house emained vacant for the remainder of the year. The expenses for the house included $9,050 in mortgage interest, $2,420 in property taxes, $1,900 in utilities, $1,030 in maintenance, and $4,700 in depreciation. What is their net income or loss from their cabin rental (without considering the passive loss limitation)? Use the RS method for allocation of expenses. Multiple Choice $8,700 net loss. $10,400 net income. $0. $4,679 net lossStep by Step Solution
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