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Vacation Homes. (Obj. 2) Dari owns a vacation home that she personally uses 14 days durin the year. The rest of the year the following
Vacation Homes. (Obj. 2) Dari owns a vacation home that she personally uses 14 days durin the year. The rest of the year the following occupants used the home. Fair rental price is $123 21 7 a night. Number of Days Occupant Dari's best friend, who paid no rent Dari's brother, who paid a fair rental price Couple who won a charity auction 60 Unrelated persons, who paid rent of $7,500 Dari's expenses related to the vacation home were as follows: Mortgage interest $ 6,700 Real estate taxes 3,300 Utilities and repairs 2,540 Depreciation 6,650 $19,190 Rental Activities 9-23 a. Compute the number of (1) days the property was rented at a fair rental price; (2) total days the property was used during the year; and (3) personal days. Discuss the significance of these three numbers as they pertain to the vacation home rules. b. Compute Dari's net rental income and any expenses that she must carry over to the next year
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