Business, 01.11.2019 05:31 braddypeter61

Natalie owns a condominium near cocoa beach in florida. this year, she incurs the following expenses in connection withher condo: insurance $1,000mortgage interest 3,500property taxes 900repairs & maintenance 650utilities 950depreciation 8,500during the year. natalie rented out the condo for 75 days, receiving $10,000 of gross income. she personally used thecondo for 35 days during her vacation. assume natalie uses the tax court method of allocating expenses to rental use of the property. a. what is the total amount of for agi (rental) deductions natalie may deduct in the current year related to the condo? b. what is the total amount of itemized deductions natalie may deduct in the current year related to the condo? c. if natalie’s basis in the condo at the beginning of the year was $150,000. what is her basis in the condo at the end of theyear?

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Natalie owns a condominium near cocoa beach in florida. this year, she incurs the following expenses...