Business, 11.02.2020 21:41 tyquanvicks13
Donald rents out his vacation home for nine months and lives in his vacation home for the remainder of the year. His gross rental income for 2017 is $7,200. The expenses attributable to the vacation home for the entire year are as follows:
Real estate taxes $2,000
Interest on mortgage loan 4,000
Utilities 1,200
Repairs/maintenance 600
Depreciation 3,500
What amount would Donald report as net income or loss from the rental of the vacation home?
Answers: 1
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