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Tina owns a condominium in Santa Barbara. During the current year, she incurs the following expenses related to the property:
Mortgage interest $10,000
Property taxes 1,800
Utilities 800
Maintenance fees 1,000
Repairs 600
Depreciation 6,000
a. For each of the following scenarios, indicate whether Tina would treat the condo for income tax purposes as personal use property, a rental, or a vacation home.
Case
Rental Income
Rental Days
Personal-use
Days
Is the classification:
Personal, Rental, or Vacation home?
A
$12,000
300
0
B
$9,000
40
10
C
20
D
$2,000
12
48
E
$11,000
280
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