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Problem 8-34 (LO 8-1, 8-2) Kelvin owns and lives in a duplex. He rents the other unit for $760 per month. He incurs the following
Problem 8-34 (LO 8-1, 8-2) Kelvin owns and lives in a duplex. He rents the other unit for $760 per month. He incurs the following expenses during the current year for the entire property Mortgage interest Property taxes Utilities $7,550 2,040 1,600 Fixed light fixture in rental unit Fixed dishwasher in personal unit Painted entire exterior 100 260 1,100 2,000 6,500 Insurance Depreciation (entire structure) negative number.) How are the above income and expenses reported on Kelvin's tax return? (Enter a Schedule E expense as a Schedule A Schedule E Personal Income Mortgage interest Property taxes Utilities Fix light (rental) Fix dishwasher Paint exterior Insurance Depreciation $
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