Kristen rented out her home for 10 days during the year for $5,000. She used the home for personal purposes for the other 355 days. She allocated the following home expenses to the rental use of the home: $$\begin{array} { | l | r | }
\hline \text { Insurance } & \$ 1,500 \
\hline \text { Mortgage interest } & 8,500 \
\hline \text { Property taxes } & 4,000 \
\hline \text { Repairs and maintenance } & 950 \
\hline \text { Utilities } & 1,900 \
\hline \text { Depreciation } & 5,500 \
\hline
\end{array}$$ Kristen's AGI is $120,000 before considering the effect of the rental activity. What is Kristen's AGI after considering the tax effect of the rental use of her home?

Question

Kristen rented out her home for 10 days during the year for $5,000. She used the home for personal purposes for the other 355 days. She allocated the following home expenses to the rental use of the home: $$\begin{array} { | l | r | } 
\hline \text { Insurance } & \$ 1,500 \
\hline \text { Mortgage interest } & 8,500 \
\hline \text { Property taxes } & 4,000 \
\hline \text { Repairs and maintenance } & 950 \
\hline \text { Utilities } & 1,900 \
\hline \text { Depreciation } & 5,500 \
\hline
\end{array}$$ Kristen's AGI is $120,000 before considering the effect of the rental activity. What is Kristen's AGI after considering the tax effect of the rental use of her home?

Quizplus · Accepted Answer

The Answer of Kristen rented out her home for 10 days during the year for $5,000. She used the home for personal purposes for the other 355 days. She allocated the following home expenses to the rental use of the home: $$\begin{array} { | l | r | } 
\hline \text { Insurance } & \$ 1,500 \
\hline \text { Mortgage interest } & 8,500 \
\hline \text { Property taxes } & 4,000 \
\hline \text { Repairs and maintenance } & 950 \
\hline \text { Utilities } & 1,900 \
\hline \text { Depreciation } & 5,500 \
\hline
\end{array}$$ Kristen's AGI is $120,000 before considering the effect of the rental activity. What is Kristen's AGI after considering the tax effect of the rental use of her home?

Kristen Rented Out Her Home for 10 Days During the Year