Carmen owns a house that she rents out for $600 per month.Her expenses for the 2017 tax year are as follows:
Carmen bought the property in March of 2003,and her basis for depreciation on the house is $110,000.She uses straight-line depreciation with a 27 ½ -year life,so the depreciation on the house is $4,000.Calculate Carmen's net income or loss from renting the house if her gross rental income is $7,200 ($600 × 12 months).

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The Answer of Carmen owns a house that she rents out for $600 per month.Her expenses for the 2017 tax year are as follows:
Carmen bought the property in March of 2003,and her basis for depreciation on the house is $110,000.She uses straight-line depreciation with a 27 ½ -year life,so the depreciation on the house is $4,000.Calculate Carmen's net income or loss from renting the house if her gross rental income is $7,200 ($600 × 12 months).

Carmen Owns a House That She Rents Out for $600