Adelene, who lives in a winter resort area, rented her personal residence for 14 days while she

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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
Determine the effect on Adelene's AGI?
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Related Book For  answer-question

South Western Federal Taxation Individual Income Taxes 2017

ISBN: 9781305873988

40th Edition

Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young, Nellen

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