. Staceys father, Victor died on September 2, 2017, leaving Stacey his entire estate. Included in the estate was Victors house. Victors basis in the residence was $167,000. The fair market value of the residence on September 2, 2017 was $269,000. Stacey has held the property as a rental property since she received it and has managed it herself, however she is not a real estate professional. To compute the depreciation on the house, Stacey has allocated $21,000 of the propertys basis to the land and the remaining amount to the house. She has depreciated the house using the MACRS rules and conventions applicable to residential real estate. Stacey has collected rental income of $1,900 per month all year (12 months) for 2020. The house was occupied during the entire year. She did not pay anyone that would require form 1099 for work related to this house. Income from this property is NOT Qualified Business Income. She incurred the following expenses related to the rental house during the year:

Property Insurance $2,990

Property Taxes $5,150

Utilities $2,750

Repairs $1,300

Depreciation To be computed