Question

Dillon rented his personal residence at Lake Tahoe for 14 days while he was vacationing in...


Dillon rented his personal residence at Lake Tahoe for 14 days while he was vacationing in Ireland. He resided in the home for the remainder of the year. Rental income from the property was $6,300. Expenses associated with use of the home for the entire year were as follows:

Real property taxes $ 3,100
Mortgage interest 12,250
Repairs 1,350
Insurance 1,540
Utilities 5,160
Depreciation 12,600

a. What effect does the rental have on Dillon’s AGI?

b. What are Dillon’s itemizable real property taxes and itemizable mortgage interest (assuming he itemizes deductions before considering deductions associated with the home)?

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT