Tyson owns a condominium near Laguna Beach, California. In 2020, he incurs the following expenses in connection with his condo: (Round your intermediate and final answer to whole number.)
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. Tyson itemizes deductions, and the sum of his itemized deduction for non-home business taxes and the real property taxes allocated to rental use of the home is less than $10,000. What is Tyson's net rental income for the year (assume this is not a leap year)?

Question

Tyson owns a condominium near Laguna Beach, California. In 2020, he incurs the following expenses in connection with his condo: (Round your intermediate and final answer to whole number.)
  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. Tyson itemizes deductions, and the sum of his itemized deduction for non-home business taxes and the real property taxes allocated to rental use of the home is less than $10,000. What is Tyson's net rental income for the year (assume this is not a leap year)?

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The Answer of Tyson owns a condominium near Laguna Beach, California. In 2020, he incurs the following expenses in connection with his condo: (Round your intermediate and final answer to whole number.)
  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. Tyson itemizes deductions, and the sum of his itemized deduction for non-home business taxes and the real property taxes allocated to rental use of the home is less than $10,000. What is Tyson's net rental income for the year (assume this is not a leap year)?

Tyson Owns a Condominium near Laguna Beach, California