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
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”.
Real property taxes
c. Determine the effect the rental activity has on Adelene’s AGI. $
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