This is a four-part question and I need help answering a,b,c, and d. Thank you!
Problem 14-59 (LO 14-5) (Algo) [The following information applies to the questions displayed below.] Natalie owns a condominium near Cocoa Beach in Florida. In 2021, she incurs the following expenses in connection with her condo: During the year, Natalie rented out the condo for 77 days, receiving $15,250 of gross income. She personally used the condo for 35 days during her vacation. Natalie's itemized deduction for nonrental taxes is less than $10,000 by more than the property taxes allocated to the rental use of the property. Assume Natalie uses the Tax Court method of allocating expenses to rental use of the property. Assume 365 days in the current year. (Do not round apportionment ratio. Round all other dollar values to the nearest whole dollar amount.) Problem 14-59 Part a (Algo) What is the total amount of for AGI (rental) deductions Natalie may deduct in the current year related to the condo (assuming she temizes deductions before considering deductions associated with the condo)? Problem 14-59 (LO 14-5) (Algo) [The following information applies to the questions displayed below.] Natalie owns a condominium near Cocoa Beach in Florida. In 2021, she incurs the following expenses in connection with her condo: During the year, Natalie rented out the condo for 77 days, receiving $15,250 of gross income. She personally used the condo for 35 days during her vacation. Natalie's itemized deduction for nonrental taxes is less than $10,000 by more than the property taxes allocated to the rental use of the property. Assume Natalie uses the Tax Court method of allocating expenses to rental use of the property. Assume 365 days in the current year. (Do not round apportionment ratio. Round all other dollar values to the nearest whole dollar amount.) Problem 14-59 Part b (Algo) b. What is the total amount of itemized deductions Natalie may deduct in the current year related to the condo? Problem 14-59 (LO 14-5) (Algo) [The following information applies to the questions displayed below.] Natalie owns a condominium near Cocoa Beach in Florida. In 2021, she incurs the following expenses in connection with her condo: During the year, Natalie rented out the condo for 77 days, receiving $15,250 of gross income. She personally used the condo for 35 days during her vacation. Natalie's itemized deduction for nonrental taxes is less than $10,000 by more than the property taxes allocated to the rental use of the property. Assume Natalie uses the Tax Court method of allocating expenses to rental use of the property. Assume 365 days in the current year. (Do not round apportionment ratio. Round all other dollar values to the nearest whole dollar amount.) roblem 14-59 Part c (Algo) If Natalie's basis in the condo at the beginning of the year was $236,000, what is her basis in the condo at the end of the year? Problem 14-59 (LO 14-5) (Algo) [The following information applies to the questions displayed below.] Natalie owns a condominium near Cocoa Beach in Florida. In 2021, she incurs the following expenses in connection with her condo: During the year, Natalie rented out the condo for 77 days, receiving $15,250 of gross income. She personally used the condo for 35 days during her vacation. Natalie's itemized deduction for nonrental taxes is less than $10,000 by more than the property taxes allocated to the rental use of the property. Assume Natalie uses the Tax Court method of allocating expenses to rental use of the property. Assume 365 days in the current year. (Do not round apportionment ratio. Round all other dollar values to the nearest whole dollar amount.) Poblem 14-59 Part d (Algo) . Assume that gross rental revenue was $3,050 (rather than $15,250 ). What amount of for AGI deductions may Natalie deduct in the urrent year related to the condo
