Business
Business, 13.12.2019 02:31, perezlizbeth570

Paul owns a second home at the lake. during the year, he spent three weeks (21 days) at the lake home, rented it to his daughter for three three-day weekends for a total of $220, and rented it to friends for ten weeks (70 days) at fair rental value of $300 per week. his expenses for the year include:
• depreciation $2,000
• insurance $100
• mortgage interest $1,000
• real estate taxes $2,000
• utilities $1,000
what amount may he deduct for expenses on his schedule e, rental income?

a. $2,100.
b. $3,000.
c. $3,220.
d. $4,620

answer
Answers: 3

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Paul owns a second home at the lake. during the year, he spent three weeks (21 days) at the lake hom...

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