Business
Business, 31.07.2021 01:00, Demarco17

Colin and Megan own a cabin in the Mammoth Mountains, California. During the year, they rented it for 45 days for $10,000 and used it 12 days for personal use. The expenses for the cabin included $7,000 in mortgage interest, $3,000 in property taxes, $1,200 in utilities, $400 in maintenance, and $3,000 in depreciation. What is their net income or loss from the cabin (without considering the passive loss limitation)

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Colin and Megan own a cabin in the Mammoth Mountains, California. During the year, they rented it fo...

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