Business, 23.10.2021 14:00 jet0120996

Katie and Mike own a home in Newport Beach, California. During the year, they rented the house for 80 days for $24,000 and used it for personal use for 30 days. The expenses for the house included $20,000 in mortgage interest, $8,500 in property taxes, $6,000 in utilities, $2,000 in maintenance, and $12,000 in depreciation. What is the deductible loss for the rental of their home (without considering the passive loss limitation)

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Katie and Mike own a home in Newport Beach, California. During the year, they rented the house for 8...

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