Question: Please do the problem 4 and 5. step by step. Net Rental Income. (Obj. 1) Sandee, a cash basis taxpayer, owns a house with two

Please do the problem 4 and 5. step by step. Net RentalIncome. (Obj. 1) Sandee, a cash basis taxpayer, owns a house withPlease do the problem 4 and 5. step by step.

Net Rental Income. (Obj. 1) Sandee, a cash basis taxpayer, owns a house with two identical units. Sandee resides in one unit and rents out the other. The tenant made timely monthl 4. rental payments of $500 for the months of January through November 2016. The tenant paid rents for December 2016 and January 2017 on January 5, 2017. During the year, Sandee paid $3,600 for utilities and $600 for insurance. These expenses were for the entire house She paid $400 for maintenance and repairs on the rental unit. Depreciation on the entire house equals $3,000. Compute Sandee's 2016 net rental income. Vacation Homes. (Obj. 2) Dari owns a vacation home that she personally uses 14 days during the year. The rest of the year the following occupants used the home. Fair rental price is $125 a night. 5. Number of Days Occupant Dari's best friend, who paid no rent Dari's brother, who paid a fair rental price Couple who won a charity auction Unrelated persons, who paid rent of $7,500 21 7 60

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