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Tyson Owns a Condominium near Laguna Beach, California During the Year, Tyson Rented the Condo for 100 Days

Question 89

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Tyson owns a condominium near Laguna Beach, California.This year, he incurs the following expenses in connection with his condo:
 Insurance$1,000 Mortgage interest7,500Property taxes 3,200Repairs and maintenance 800 Utilities 1,700 Depreciation 5,700\begin{array}{llcc} \text { Insurance} & \$1,000 \\ \text { Mortgage interest} &7,500\\ \text {Property taxes } &3,200\\ \text {Repairs and maintenance } &800\\ \text { Utilities } &1,700\\ \text { Depreciation } &5,700\\\end{array}

During the year, Tyson rented the condo for 100 days, receiving $25,000 of gross income.He personally used the condo for 60 days.Assume Tyson uses the Tax Court method of allocating expenses to rental use of the property.What is Tyson's net rental income for the year? (Assume there are 365 days in the year.)

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$16,317.
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