Kristen rented out her home for 10 days during the year for $5,000. She used the home for personal purposes for the other 355 days. She allocated the following home expenses to the rental use of the home: Insurance
Mortgage interest
Property taxes
Repairs and maintenance
Utilities
Depreciation
Kristen's AGI is $120,000 before considering the effect of the rental activity. What is Kristen's AGI after considering the tax effect of the rental use of her home?
Correct Answer:
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