When a taxpayer rents his residence to unrelated parties for $14$ or fewer days and lives in the residence for at least $15$ days, her or she Blank$\_\_\_\_\_\_.$

Multiple choice question.

reports the rental income but is not allowed to deduct the rental expenses

reports the rental income and deducts the rental expenses, but only to the extent of the rental income

does NOT report any rental income and is not allowed to deduct any rental expenses

reports the rental income and expenses up to a maximum net loss of $$25,000$

Multiple select question.

All rental deductions are limited to gross rental revenue.

The taxpayer rents the home for $15$ days or more.

All rental income is included in gross income.

The taxpayer uses the home personally for more than the greater of $14$ days or $20\%$ of the days rented.

$100\%$ of the interest and taxes on the property are deducted as itemized deductions.

All direct rental expenses such as advertising are fully deductible.