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! Required Information [ The following information applies to the questions displayed below. ] Alexa owns a condominlum near Cocoa Beach in Florida. This year,
Required Information
The following information applies to the questions displayed below.
Alexa owns a condominlum near Cocoa Beach in Florida. This year, she incurs the following
expenses in connection with her condo:
During the year, Alexa rented out the condo for days. Alexa's AGI from all sources other than
the rental property is $ Unless otherwise specified, Alexa has no sources of passive
income.
Assume that in addition to renting the condo for days, Alexa uses the condo for days of
personal use. Also assume that Alexa recelves $ of gross rental recelpts and her Itemized
deductions exceed the standard deduction before considering expenses assoclated with the
condo and that her itemized deduction for nonhome business taxes is less than $ by
more than the real property taxes allocated to rental use of the home. Answer the following
questions:
Note that the home is considered to be a nonresidence with rental use.
b What is the total amount of from AGI deductions relating to the condo that Alexa may deduct in the current year?
Assume she uses the IRS method of allocating expenses between rental and personal days. Do not round
Intermedlate calculations. Round your final answer to the nearest whole dollar amount.
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