Business
Business, 30.03.2020 22:06, cartertyson499

Darren and Nikki own a cabin in Mammoth, California. During the year, they rented it for 45 days for $9,000 and used it for 12 days for personal use. The house remained vacant for the remainder of the year. The expenses for the house included $8,000 in mortgage interest, $2,000 in property taxes, $1,200 in utilities, $750 in maintenance, and $4,000 in depreciation. What is their net income or loss from their cabin rental (without considering the passive loss limitation)? Use the IRS method for allocation of expenses.

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Darren and Nikki own a cabin in Mammoth, California. During the year, they rented it for 45 days for...

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