Question

Jerry owns a condo at a ski resort. He places the condo in a rental pool...

Jerry owns a condo at a ski resort. He places the condo in a rental pool managed by the resort when he and his family are not using it. During 2019 they reported the following:

Personal use days……………………………….62

Rental days……………………………...……….34

Rental income……………………………………7,600

Property taxes………………………………..…..9,800

Mortgage interest………………………………...5,600

Utilities and maintenance………………...……..3,600

Using the Bolton allocation, what is reported…

Schedule E

Schedule A

Totals

Rental income

Property tax

Mortgage interest

Utilities and maintenance
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Answer #1

(3600 x 34/(34+62)) = 1,275

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