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Title: Nikki is a single taxpayer who owns a vacation cottage on the lake. During the year, she rented it ... Post by: Sheena Maskell on Jan 9, 2017 Nikki is a single taxpayer who owns a vacation cottage on the lake. During the year, she rented it for $2,000 for 14 days, lived in it for 56 days, and left it vacant the remainder of the year. The year's expenses amounted to $5,000 interest expense, $800 property taxes, $1,500 utilities and maintenance, and $2,400 depreciation. Using the IRS method of allocating expenses, and assuming that Nikki has other itemized deductions of $9,000 after appropriate limits and AGI of $100,000, what is Nikki's taxable income in 2010?
A) $81,550 B) $85,200 C) $86,000 D) $87,350 Title: Re: Nikki is a single taxpayer who owns a vacation cottage on the lake. During the year, she rented ... Post by: Yoko900 on Jan 9, 2017 Content hidden
Title: Re: Nikki is a single taxpayer who owns a vacation cottage on the lake. During the year, she rented it ... Post by: Sheena Maskell on Mar 20, 2017 Perfect :raised_hands:
Title: Re: Nikki is a single taxpayer who owns a vacation cottage on the lake. During the year, she rented ... Post by: Mirandolina on May 26, 2017 Hi, do u know answer for this question? Please let me know. Thanks
Title: Re: Nikki is a single taxpayer who owns a vacation cottage on the lake. During the year, she rented ... Post by: Thi Ly on Oct 30, 2020 thank you!
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