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Tax accounting During the year, Careen rented the condo for 90 days, receiving $20,000 of gross income. She personally used the condo for 50 days.

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During the year, Careen rented the condo for 90 days, receiving $20,000 of gross income. She personally used the condo for 50 days. Careen itemizes deductions and her itemized deduction for non-home business taxes is less than $10,000 by more than the real property taxes allocated to business use of the home. Assume Careen uses the IRS method of allocating expenses to rental use of the property. What is Careen's net rental income for the year? (Assume there are 365 days in the year.)

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