If a vacation home is determined to be a personal/rental use residence,which of the following statements is correct?
A) All rental income is included in gross income.
B) All rental related expenses are a deduction from gross income.
C) Expenses must be allocated between rental and personal use.
D) Only a.and c.are correct.
E) a. ,b. ,and c.are correct.
Correct Answer:
Verified
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