bcox32314
bcox32314
24.10.2019 • 
Business

Piper owns a vacation cabin in the tennessee mountains. without consider-ing 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. a. what effect does the rental of the vacation cabin have on piper’s agi? b. what expenses can piper deduct, and how are they classified (i.e., for or from agi)?

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