Question 30 Jack actively participates in managing a rental home that he owns and rents out all year. This year, he realized a loss on the rental house of ($24,000). He has no other passive activities. How much of this loss, if any, can he recognize if his AGI is $142,000? ($4,000) None of the answers are correct. ($21,000) ($24,000) $0 Question 31 During the year, Maggie rented out her vacation home for 100 days for gross rental revenue of $10,000 and used it personally for 100 days. Maggie incurred the following expenses related to the home: Mortgage interest $16,000 Property taxes $8,000 Utilities $4,000 Depreciation $20,000 Commissions to realtor for signing renters $1,000 Based on these facts and using the IRS Method for allocating expenses, what are Maggie's deductible Tier 1 rental expenses? $10,000 $12,000 None of the answers are correct. $12,500 $13,000 Question 32 During the year, Maggie rented out her vacation home for 100 days for gross rental revenue of $10,000 and used it personally for 100 days. Maggie incurred the following expenses related to the home: Mortgage interest $16,000 Property taxes $8,000 Utilities $4,000 Depreciation $20,000 Commissions to realtor for signing renters $1,000 Based on these facts and using the IRS Method for allocating expenses, how much of the Utilities expense is deductible as a for AGI deduction? None of the answers are correct. $4,000 $2,000 $0 O $1,000