Lancelot owns a cabin that he rented for 4 months and lived, Ask an Expert

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Lancelot owns a cabin that he rented for 4 months and lived in for 2 months. Lancelot received $6,000 in rental income. Lancelot's total expenses were as follows: Depreciation $3600, Maintenance $200, Utilities $500, Taxes $1100, Interest $2400. What is Lancelot's depreciation deduction on the IRS method of allocating expenses?

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M91967031

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