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PLEASE SHOW WORK AND EXPLAIN During 2020, Shirley rents her beach house for 6 days and uses it for personal use for 30 days during
PLEASE SHOW WORK AND EXPLAIN
During 2020, Shirley rents her beach house for 6 days and uses it for personal use for 30 days during the year.
The rental income is $6,000 and the expenses are as follows:
Mortgage interest $8,000
Real estate taxes 4,000
Utilities 1,000
Maintenance 1,000
Insurance 600
Depreciation (rental part) 5,000
Using the IRS approach, what is the total expenses that Shirley can deduct on her tax return in the current year?
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