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Tamar owns a condominium near Cocoa Beach in Florida. In 2 0 2 2 , she incurs the following expenses in connection with her condo:
Tamar owns a condominium near Cocoa Beach in Florida. In she incurs the following expenses in connection with her condo:
Insurance $
Advertising expense
Mortgage interest
Property taxes
Repairs & maintenance
Utilities
Depreciation
During the year, Tamar rented out the condo for days, receiving $ of gross income. She personally used the condo for days during her vacation. Tamar's itemized deduction for nonrental taxes is less than $ by more than the property taxes allocated to the rental use of the property. Assume that gross rental revenue was $rather than $ What amount of for AGI deductions may Tamar deduct in the current year related to the condo assuming she itemizes deductions before considering deductions associated with the condo
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