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julia-pushkina [17]
3 years ago
9

During the year (not a leap year), Anna rented her vacation home for 87 days, used it personally for 13 days, and left it vacant

for 265 days. She had the following income and expenses:Rent income $7,000Expenses: Real estate taxes 2,500Interest on mortgage 9,000Utilities 2,400Repairs 1,000Roof replacement (a capital expenditure) 12,000Depreciation 7,500What amount of the real estate taxes can Anna deduct as an itemized deduction?
Business
1 answer:
Oksana_A [137]3 years ago
6 0

Answer:

<u>Anna can deduct up to US$ 10,000, so she can deduct as an itemized deduction the payment of US$ 2,500 on real estate taxes she made.</u>

Explanation:

Any taxpayer can deduct real estate taxes on the federal income tax return.  For 2019, the IRS says a taxpayer can deduct up to $10,000 ($5,000 if you're married filing separately) But limits apply and you have to itemize to take the deduction.

<u>Therefore, Anna can deduct up to US$ 10,000, so she can deduct as an itemized deduction, the payment of US$ 2,500 on real estate taxes she made.</u>

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a) demand curve and demand schedule

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How do we know how much to fix when selling a house?
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3 years ago
there is a surplus of a new brand of cereal on the market. what will likely happen to the price of the cereal?
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The price of the cereal would fall.

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Find the effective rate of interest if payments of 300 at the present, 200 at the end of one year, and 100 at the end of two yea
Illusion [34]

Answer:

12.93%

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300(1+r)^3 + 200(1+r)^2 + 100(1+r) = 800

which can be further simplified to

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r = 0.12926

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Therefore,  effective rate of interest  = 12.93%

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2 years ago
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o-na [289]

Answer:

$344,000

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