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Sheena Maskell Sheena Maskell
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Posts: 1902
7 years ago
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
Textbook 
Prentice Hall's Federal Taxation: 2011: Individuals

Prentice Hall's Federal Taxation: 2011: Individuals


Edition: 14th
Authors:
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Yoko900Yoko900
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7 years ago
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Sheena M. Author
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7 years ago
Perfect Person Raising Both Hands in Celebration
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6 years ago
Hi, do u know answer for this question? Please let me know. Thanks
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3 years ago
thank you!
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