Donald owns a two-family home. He rents out the first floor and resides on the second floor. The following expenses attributable to the total building were incurred by Donald for the year ended December 31, 2016. Real estate taxes $1,800 Mortgage interest $1,200 Utilities $1,000 Repairs (first floor) $ 300 Painting (second floor) $ 400 In addition, the depreciation attributable to the entire building would be $2,000. What is the total amount of the expenses that Donald can deduct on Schedule E of Form 1040 (before any limitations)

$3,300

Explanation:

Calculation for the total amount of the expenses that Donald can deduct

Total amount of expenses=Repairs (first floor) $ 300+50%*($1,800 Real estate taxes+ Mortgage interest $1,200 +Utilities $1,000+Depreciation $2,000

Total amount of expenses=Repairs (first floor) $ 300+0.5*(6,000)

Total amount of expenses=Repairs (first floor) $ 300+3,000

Total amount of expenses=$3,300

Therefore the total amount of the expenses that Donald can deduct will be $3,300

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