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Item $6$

Randolph and Tammy own a second home. They spent $45$ days there and rented it for $88$ days at $$150$ per day during the year. The total costs relating to the home include the following:

Mortgage interest$ $4,500$Property taxes$1,200$Insurance$1,800$Utilities$2,300$Repairs$1,500$Depreciation$6,500$

Required:

What is the tax treatment of these items relating to second home under Tax Court allocation method?

What is the tax treatment of these items relating to second home under IRS allocation method?

Which of the methods is preferred?