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Determine how much of the rental income is reportable

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Adelene, who lives in a winter resort area, rented her personal residence for 14 days while she was visiting Brussels. Rent income was $5,000. Related expenses for the year were as follows:

Real property taxes $3,800

Mortgage interest 7,500

Utilities 3,700

Insurance 2,500

Repairs 2,100

Depreciation 15,000

If an answer is zero, enter "0".

a. Determine how much of the rental income is reportable.

b. Determine whether the expenses are deductible. Select "Yes" if deductible otherwise select "No".

Depreciation

Real property taxes

Repairs

Utilities

Mortgage interest

Insurance

c. Determine the effect the rental activity has on Adelene's AGI.

Reference no: EM131340963

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