Ploblems Question 2 (of 2) Instructions value Save&Ext; Suts 0.40 points Alice r

Question

Ploblems Question 2 (of 2) Instructions value Save&Ext; Suts 0.40 points Alice rented her personal residence for 11 days to summer following vacationers for $3900. She has AGI of $98,500, before the rental income Related experses tor he year include he $ Real property taxes Utilities Insurance Mortgage interest Repairs Depreciation S 3,940 5,500 725 6,900 670 4.500 a. What is the net rental income includible in AG1? Net rental income pe here to search SeriesWindows 7 hove Premiom VPCEG28FGMemory 4 GB I Ward insk Dnwe s00 B

Explanation / Answer

a). Answer :- Net rental income to be included in Adjusted gross income (AGI) = $ 0.

Explanation:- Since the days for which residence rented (in given question) is 14 days or lesser, accordingly, no income (earned by Alice) is to be reported as per Internal revenue service (IRS) code and therefore, net rental income to be includible in the adjusted gross income (AGI) will be $ 0.

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