vacation home rental - primarily rental use

Project Description:

during the year (not a leap year), anna rented her vacation home for 87 days, used it personally for 13 days, and left it vacant for 265 days. she had the following income and expenses:

rent income $7,000
real estate taxes 2,500
interest on mortgage 9,000
utilities 2,400
repairs 1,000
roof replacement (a capital expenditure) 12,000
depreciation $7,500

if required, round your answers to the nearest dollar. if an amount is zero, enter "0".
compute:
1. gross income: ________________
2. total expenses: ________________
3. net rental loss: ________________
4. what amount of mortgage interest can she
itemize? ________________
Skills Required:
Project Stats:

Price Type: Negotiable

Completed
Total Proposals: 4
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