A cash equivalent is: Multiple Choice Generally within 3 years of its maturity date. Close to its maturity date but its market v
1 answer:
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Answer:
The mortgage interest amount will be "Zero (0)".
Explanation:
A property to pay. Unless the apartment is started renting for 15 days or more in one year as well should not be used for private purposes for even more of some
(1) 14 days as well as
(2) 10% of the total rentals days, the apartment shall be considered as rental home.
Gross income = $7000
Now,
On putting the values, we get
⇒
⇒
And, Net rental loss will be:
So that the Mortgage interest itemized will be "0" .