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3. This question is worth 10 points During the year, Evan rented his vacation home for 60 days and spen 90 days there. Gross rental income from the property was $3,000. Evan incurred the following expenses mortgage interest, $2,000 real estate taxes, $2,500 utilities, $1,000 maintenance, $300, and depreciation, $$,000 Identify how this vacation home is treatod the type (personal, rental. personal/rental), and how your conclusion (state the nule and apply the facts to the rule) 2 Compute Evans allowable rental deductions for the vacation home using the Courts approach, rounding to the ncarest dollar. Your answer should follow the format used in Chapter 6, Examples 35 through 39 in text What schodule are rental income and expenses reported on? Prepare this schodule and attach it to your eam on the page AFTER the page which contains answers to this question parts 1 through Are rental expenses Deductions FOR AGI or FROM AGI Which personal expenses are deductible and how much may be doductod How are these personal expenses classified: FOR AGI or FROM AGI What tax schedule are the personal expenses reportad on?
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