Gross rental income from the property


During the year martin rented his vacation home for three months and spent one month there. Gross rental income from the property was $5,000. Martin incurred the following expenses: mortgage interest $3,000, real estate taxes $1,500, utilities $800, maintenance $500, depreciation $4,000.Compute Martin`s allowable deductions for the vacation home.

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Accounting Basics: Gross rental income from the property
Reference No:- TGS0676023

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