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Please help me answer the following questions in correspondence with 2016 tax laws: Joe owns a vacation house but rents it during the College football
Please help me answer the following questions in correspondence with 2016 tax laws:
Joe owns a vacation house but rents it during the College football season for 4 weekends (12 days). He gets $2,000 per weekend. Joe uses the home at other times for about 50 days during the year. Expenses are $10,000, not including interest and taxes. How much income must Joe report from the property?
a.) $1,500
b.) $8,000
c.) $0
d.) None of the above
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