16 Jun Adelene, Who Lives In A Winter Resort Area, Rented Her Personal Residence For
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 $3,800
Mortgage interest 7,500
Utilities 3,700
Insurance 2,500
Repairs 2,100
Depreciation 15,000
If an answer is zero, enter “0”.
a. Determine how much of the rental income is reportable. $
b. Determine whether the expenses are deductible. Select “Yes” if deductible otherwise select “No”.
Depreciation
Real property taxes
Repairs
Utilities
Mortgage interest
Insurance
c. Determine the effect the rental activity has on Adelene’s AGI. $
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