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Business, 24.01.2020 22:31 pakabigail4796

Chee, single, age 40, had the following income and expenses during 2018: income salary $43,000 rental of vacation home (rented 60 days, used personally 60 days, vacant 245 days) 4,000 municipal bond interest 2,000 dividend from general electric 400 expenses interest on home mortgage 8,400 interest on vacation home 4,758 interest on loan used to buy municipal bonds 3,100 property tax on home 2,200 property tax on vacation home 1,098 state income tax 3,300 state sales tax 900 charitable contributions 1,100 tax return preparation fee 300 utilities and maintenance on vacation home 2,600 depreciation on rental 50% of vacation home 3,500. calculate chee's net income from the vacation home, itemized deductions and taxable income for the year.

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Chee, single, age 40, had the following income and expenses during 2018: income salary $43,000 rent...
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