Donald owns a two-family home.He rents out the first floor and resides on the second floor.The following expenses attributable to the total building were incurred by Donald for the year ended December 31, 2018: $$\begin{array} { l r }
\text { Real estate taxes } & \$ 1,800 \
\text { Mortgage interest } & 1,600 \
\text { Utilities } & 1,200 \
\text { Repairs (first floor) } & 1,400 \
\text { Painting (second floor) } & 400
\end{array}$$ In addition, the depreciation attributable to the entire building would be $2,000.What is the total amount of the expenses that Donald can deduct on Schedule E of Form 1040 (before any limitations)?
A)$3,300
B)$3,850
C)$4,000
D)$4,700
E)None of the above

Question

Donald owns a two-family home.He rents out the first floor and resides on the second floor.The following expenses attributable to the total building were incurred by Donald for the year ended December 31, 2018: $$\begin{array} { l r } 
\text { Real estate taxes } & \$ 1,800 \
\text { Mortgage interest } & 1,600 \
\text { Utilities } & 1,200 \
\text { Repairs (first floor) } & 1,400 \
\text { Painting (second floor) } & 400
\end{array}$$ In addition, the depreciation attributable to the entire building would be $2,000.What is the total amount of the expenses that Donald can deduct on Schedule E of Form 1040 (before any limitations)?
A)$3,300
B)$3,850
C)$4,000
D)$4,700
E)None of the above

Quizplus · Accepted Answer

The Answer of Donald owns a two-family home.He rents out the first floor and resides on the second floor.The following expenses attributable to the total building were incurred by Donald for the year ended December 31, 2018: $$\begin{array} { l r } 
\text { Real estate taxes } & \$ 1,800 \
\text { Mortgage interest } & 1,600 \
\text { Utilities } & 1,200 \
\text { Repairs (first floor) } & 1,400 \
\text { Painting (second floor) } & 400
\end{array}$$ In addition, the depreciation attributable to the entire building would be $2,000.What is the total amount of the expenses that Donald can deduct on Schedule E of Form 1040 (before any limitations)?
A)$3,300
B)$3,850
C)$4,000
D)$4,700
E)None of the above

Donald Owns a Two-Family Home In Addition, the Depreciation Attributable to the Entire Building Would