Chat with us, powered by LiveChat Natalie owns a condominium near Cocoa Beach in Flo - Writemia

Natalie owns a condominium near Cocoa Beach in Flo

Natalie owns a condominium near Cocoa Beach in Florida. This year, she incurs the following expenses in connection with her condo:Insurance $1,000Advertising expense 500Mortgage interest 3,400Property taxes 900Repairs & maintenance 650 Utilities 950 Depreciation 8,500During the year, Natalie rented out the condo for 75 days, receiving $10,000 of gross income. She personally used the condo for 35 days during her vacation. Assume Natalie uses the Tax Court method of allocating expenses to rental use of the property. What is the total amount of for AGI (rental) deductions Natalie may deduct in the current year related to the condo?

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