Donald rents out his vacation home for 9 months and lives in his
vacation home for the remainder of the year. His gross rental
income for 2019 is $7,200. The expenses attributable to the
vacation home for the entire year are as follows:
Real estate taxes |
$2,000 |
Interest on mortgage loan |
4,000 |
Utilities |
1,200 |
Repairs/maintenance |
600 |
Depreciation |
3,500 |
What amount would Donald report as net income or loss from the rental of the vacation home?
Get Answers For Free
Most questions answered within 1 hours.