Question
Spider Gwen rents her beach house for 120 days and uses it for personal use for 60 days during the year. The rental income is
- Spider Gwen rents her beach house for 120 days and uses it for personal use for 60 days during the year. The rental income is $12,000and the expenses are asfollows:
Mortgage interest $12,000
Real estate taxes 6,000
Utilities 4,000
Maintenance 2,000
Insurance 1000
Depreciation (rental part) 8,000
What is the total amount of expenses that Spider Gwen will be able to deduct on her tax return with respect to the beach house?
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Acct 2302 Managerial Accounting
Authors: Fred Phillips Stacey Whitecotton, Robert Libby
1st Edition
1259135624, 978-1259135620
