Problem 6-47 (LO. 3) Adelene, who lives in a winter resort area, rented her personal residence for 14 days while she was visiting Brussels. Rent income was $5,000. Related expenses for the year were as follows: Real property taxes $3,800 Mortgage interest 7,500 Utilities 3,700 Insurance 2,500 Repairs 2,100 Depreciation 15,000 If an answer is zero, enter "0". a. Determine how much of the rental income is reportable. $ 0 b. Determine whether the expenses are deductible. Select "Yes" if deductible otherwise select "No". Depreciation No Real property taxes Yes Repairs No Utilities No Mortgage interest Yes Insurance No c. Determine the effect the rental activity has on Adelene's AGI. Problem 6-48 (LO. 3) () During the year (not a leap year), Anna rented her vacation home for 30 days, used it personally for 20 days, and left it vacant for 315 days. She had the following income and expenses: Rent Income $7,000 Expenses 2,500 Real estate taxes Interest on mortgage 9,000 Utilities 2,400 1,000 Repairs Roof replacement (a capital expenditure) 12,000 Depreciation 7,500 If an answer is zero, enter "O". Assume a 365-day year. In your computations round any fractions to four decimal places. Round your final answer to the nearest dollar. a. Compute Anna's net rent income or loss and the amounts she can itemize on her tax return, using the court's approach to allocating property taxes and interest. In the table below, if an expense is an itemized deduction select "Yes", otherwise select "No". ", . Real property taxes Yes Utilities No Repairs No No Depreciation Roof replacement Mortgage interest No Yes Anna has itemize deductions of 10,555 Compute Anna's taxable net rent income or deductible rental loss. 0 b. How would your answer in part (a) differ using the IRS's method of allocating property taxes and interest? Anna has s of itemize deductions related to these expenses and her taxable net rent Income or deductible rental loss is