Business, 04.03.2020 02:26 christianfielding336
Sarah owns a vacation cabin in the Tennessee mountains. Without considering the cabin, she has gross income of $65,000. During the year, she rents the cabin for two weeks for $2,500 and uses it herself for four weeks. The total expenses for the year are $10,000 mortgage interest; $1,500 property tax; $2,000 utilities, insurance, and maintenance; and $3,200 depreciation.
If an amount is zero, enter "0".
a. What effect does the rental of the vacation cabin have on Sarah's AGI?
Sarah reports rental income of ? and rental expenses of ? for AGI.
b. What expenses can Sarah deduct, and how are they classified (i. e., for or from AGI)?
Note: Assume that she itemizes her deductions.
a. Utilities $
b. Insurance $
c. Property Taxes $
d. Mortgage interest $
e. Maintenance expenses $
Answers: 2
Business, 23.06.2019 00:00
1. which of the following is true about how your skill set relates to a future career? (1 point) employers like to hire people with only full-time job experience. employers consider subject-specific skills for new positions. skills learned in high school should not be included. skills from part-time jobs and volunteer work may prove beneficial in future jobs. 2. which of the following is a list of broad categories of skills? (1 point) creativity, art and communications, tools and trade, literacy and language, and interpersonal skills english and literacy, tools and trade, mathematics, and creativity interpersonal skills, intrapersonal skills, writing and literacy, tools and trade, and creativity mathematics and data, words and literacy, tools and tasks, interpersonal relationships, and creativity
Answers: 3
Business, 23.06.2019 12:30
You’ve decided to buy a new computer that costs $1,500. but best buy will let you take the computer home without making paying the full price immediately. rather, best buy will let you pay $500 now, and $500 at the end of each of the next two years. if the interest rate is 5%, how much do you need today to make sure you can make all the payments to best buy?
Answers: 1
Business, 23.06.2019 21:10
Which of the following best describes how manufacturing creates wealth? increases the number of affluent americans living in the united states and abroad drives the stock market, thus creating wealth for investors provides many low-wage jobs, driving down the unemployment rate increases the value of raw materials by turning them into something people and companies will purchase
Answers: 1
Business, 23.06.2019 21:40
If modern company received $3,650 from connor young company on march 12 for the total amount of an account that had been written off on march 1, the entry to reinstate the account under the direct write-off method would include
Answers: 1
Sarah owns a vacation cabin in the Tennessee mountains. Without considering the cabin, she has gross...
Mathematics, 26.10.2019 16:43
Mathematics, 26.10.2019 16:43
Advanced Placement (AP), 26.10.2019 16:43
Physics, 26.10.2019 16:43
Social Studies, 26.10.2019 16:43
Mathematics, 26.10.2019 16:43
Mathematics, 26.10.2019 16:43
Mathematics, 26.10.2019 16:43
Arts, 26.10.2019 16:43