Girardo owns a condominium in Key West.During the year,Girardo uses the condo a total of 22 days.The condo is also rented to vacationers for a total of 78 days and generates rental income of $24,000.Girardo incurs the following expenses before allocation:
$$\begin{array} { l r }
\text { Mortgage interest } & \$ 8,000 \
\text { Property taxes } & 3,600 \
\text { Utilities } & 4,000 \
\text { Insurance } & 2,400 \
\text { Depreciation } & 22,000
\end{array}$$
The amount of depreciation that Girardo may deduct with respect to the rental property is
A)$ 7,300
B)$ 9,960
C)$14,040
D)$17,160
E)$22,000

Question

Girardo owns a condominium in Key West.During the year,Girardo uses the condo a total of 22 days.The condo is also rented to vacationers for a total of 78 days and generates rental income of $24,000.Girardo incurs the following expenses before allocation:
$$\begin{array} { l r } 
\text { Mortgage interest } & \$ 8,000 \
\text { Property taxes } & 3,600 \
\text { Utilities } & 4,000 \
\text { Insurance } & 2,400 \
\text { Depreciation } & 22,000
\end{array}$$
The amount of depreciation that Girardo may deduct with respect to the rental property is
A)$ 7,300
B)$ 9,960
C)$14,040
D)$17,160
E)$22,000

Quizplus · Accepted Answer

The Answer of Girardo owns a condominium in Key West.During the year,Girardo uses the condo a total of 22 days.The condo is also rented to vacationers for a total of 78 days and generates rental income of $24,000.Girardo incurs the following expenses before allocation:
$$\begin{array} { l r } 
\text { Mortgage interest } & \$ 8,000 \
\text { Property taxes } & 3,600 \
\text { Utilities } & 4,000 \
\text { Insurance } & 2,400 \
\text { Depreciation } & 22,000
\end{array}$$
The amount of depreciation that Girardo may deduct with respect to the rental property is
A)$ 7,300
B)$ 9,960
C)$14,040
D)$17,160
E)$22,000

Girardo Owns a Condominium in Key West The Amount of Depreciation That Girardo May Deduct with Respect