Donald Jefferson and his wife, Maryanne, live in a modest house located in a Los Angeles suburb.
Question:
a. What is the Jeffersons' tax liability for 2012?
b. What would the tax liability be if the Jeffersons did not have the rental property? (Assume that Maryanne would not get another job if the Jeffersons did not own the rental property.)
c. Why is the plumbing expense a tax deduction for the rental property but not for the house in which the Jeffersons live?
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