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Business, 06.03.2020 17:55 leem6

Natalie owns a condominium near Cocoa Beach in Florida. This year, she incurs the following expenses in connection with her condo:Insurance $1,000Advertising expense 500Mortgage interest 3,500Property taxes 900Repairs & maintenance 650Utilities 950Depreciation 8,500During the year, Natalie rented out the condo for 75 days, receiving $10,000 of gross income. She personally used the condo for 35 days during her vacation. Assume Natalie uses the IRS method of allocating expenses to rental use of the property. e) Using the original facts, complete Natalie’s Form 1040, Schedule E, for this property. Also, partially complete Natalie’s 1040, Schedule A, to include her from AGI deductions related to the condo.

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Natalie owns a condominium near Cocoa Beach in Florida. This year, she incurs the following expenses...
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