During the year, Martin rented his vacation home for three months and spent one month there.Gross rental income from the property was $5,000.Martin incurred the following expenses: mortgage interest, $3,000? real estate taxes,
$1,500? utilities, $800? maintenance, $500? and depreciation, $4,000.Compute Martin's allowable deductions for the vacation home under the court's approach and the IRS's approach.

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The Answer of During the year, Martin rented his vacation home for three months and spent one month there.Gross rental income from the property was $5,000.Martin incurred the following expenses: mortgage interest, $3,000? real estate taxes,
$1,500? utilities, $800? maintenance, $500? and depreciation, $4,000.Compute Martin's allowable deductions for the vacation home under the court's approach and the IRS's approach.

During the Year, Martin Rented His Vacation Home for Three