subject
Business, 06.03.2020 18:50 floverek

Piper owns a vacation cabin in the Tennessee mountains. Without considering the cabin, she has gross income of $65,000. During the year, she rents the cabin for two weeks for $2,500 and uses it herself for four weeks. The total expenses for the year are $10,000 mortgage interest; $1,500 property tax; $2,000 utilities, insurance, and maintenance; and $3,200 depreciation. If an amount is zero, enter "0". a. What effect does the rental of the vacation cabin have on Piper's AGI? Piper reports rental income of $ and rental expenses of $ for AGI. Feedback Restrictions on the deductions allowed for part-year rentals of personal vacation homes were written into the law to prevent taxpayers from deducting essentially personal expenses as rental losses. b. What expenses can Piper deduct, and how are they classified (i. e., for or from AGI)? Note: Assume that she itemizes her deductions. a. Utilities $ Not deductible b. Insurance $ Not deductible c. Property Taxes $ From AGI d. Mortgage interest $ From AGI e. Maintenance expenses $ Not deductible

ansver
Answers: 2

Another question on Business

question
Business, 22.06.2019 10:00
Suppose an economy has only two sectors: goods and services. each year, goods sells 80% of its outputs to services and keeps the rest, while services sells 62% of its output to goods and retains the rest. find equilibrium prices for the annual outputs of the goods and services sectors that make each sector's income match its expenditures.
Answers: 2
question
Business, 22.06.2019 11:50
Which of the following does not offer an opportunity for timely content? evergreen content news alerts content that suits seasonal consumption patterns content that matches a situational trigger content that addresses urgent pain points
Answers: 2
question
Business, 22.06.2019 17:20
Andy owns islander surfboard inc. in the past, andy has always given his employees bonuses during the holidays if they reached certain sales goals. this year, even though the company is thriving, he decided to cut bonuses from employees and award them to himself instead. what ethical theory of leadership is andy following?
Answers: 1
question
Business, 22.06.2019 21:10
You own a nonunion company with 93 nonexempt employees. all of these employ- ees pack books into boxes for shipment to customers throughout the united states. because of wide differences in performance, you have decided to try performance appraisal, something never done before. until now, you have given every worker the same size increase. now you want to measure performance and reward the best performers with bigger increases. without any further information, which of the five types of appraisal formats do you think would be most appropriate? justify your answer. do you anticipate any complaints, or other comments, from employees after you implement your new system?
Answers: 1
You know the right answer?
Piper owns a vacation cabin in the Tennessee mountains. Without considering the cabin, she has gross...
Questions
question
Mathematics, 05.10.2020 18:01
Questions on the website: 13722363