Brianna owns a cottage at the beach. She and her family use the property for 30 days during the summer season and rent it to unrelated parties for 60 days. The rental receipts amount to $8,000. Total costs of operating the property are as follows:

Mortgage interest	$13,000
Property taxes	5,000
Utilities	2,000
Insurance	1,000
Maintenance	600

In addition, potential depreciation expense is $9,000.

How much of the expenses can Brianna deduct (and specify on which schedule they are included)?

Answer rating: 100% (QA)

All the expenses can be allowed as deduction and has to be claimed in the same year But the rental l... View the full answer