Business, 27.12.2019 01:31, mmaglaya1

Adelene, who lives in a winter resort area, rented her personal residence for 14 days while she was visiting brussels. rent income was $5,000. related expenses for the year were as follows: real property taxes $3800 mortgage interest $7500 utilities $3700 insurance $2500 repairs $2100 depreciation $15000 a. determine the effect the rental activity has on adelene's agi? $. determine how much of the rental income is reportable. $

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answered: avavackity

a) The effect the rental activity has on Adelene's AGI is $0.

b) The total rental income is less than the total expenses for the year, so the reportable rental income is $0.

Explanation:

particulars amount amount

rental income $5,000

property taxes $3,800

mortgage interest $7,500

utilities $3,700

insurance $2,500

repairs $2,100

depreciation $15,000

total deduction $34,600

AGI $0

Therefore, The effect the rental activity has on Adelene's AGI is $0.

particulars amount

Real property taxes $3,800

mortgage interest $7,500

utilities $3,700

insurance $2,500

repairs $2,100

depreciation $15,000

total expenses $34,600

Therefore, The total rental income is less than the total expenses for the year, so the reportable rental income is $0.

answered: Guest

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.

answered: Guest

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Adelene, who lives in a winter resort area, rented her personal residence for 14 days while she was...