Determine how much of the rental income is reportable.
Adelene, who lives in a winter resort area, rented her personal residence for 14 days while she was visiting Brussels. Rent income was $5,000. Related expenses for the year were as follows: Real property taxes $3,800Mortgage interest 7,500Utilities 3,700Insurance 2,500Repairs 2,100Depreciation 15,000If an answer is zero, enter 0.a. Determine how much of the rental income is reportable. $b. Determine whether the expenses are deductible. Select Yes if deductible otherwise select No.Depreciation Real property taxes Repairs Utilities Mortgage interest Insurance c. Determine the effect the rental activity has on Adelenes AGI. $
