Adelene who lives in a winter resort area rented her, Ask an Expert

Accounting

Adelene, who lives in a winter resort area, rented her personal residence for 14 days while she was visiting Brussels. Rent income was $5000. Related expenses for the year were as follows:

Real property taxes $3,800
Mortgage interest 7,500
Utilities 3,700
Insurance 2,500
Repairs 2,100
Depreciation 15,000

Determine the effect on Adelene's AGI.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M941508

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