Solution-Calculate sherrys net income

Calculate sherrys net income

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Reference no: EM13507476

Sherry rents her vacation home for 6 months and lives in it for 6 months during the year. Her gross rental income during the year is $4,000. Total real estate taxes for the home are $950, and interest on the home mortgage is $3,000. Annual utilities and maintenance expenses total $1,800, and depreciation expense is $4,500. Calculate Sherry's net income from the vacation home for this tax year.

Reference no: EM13507476

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Calculate sherrys net income

Reference no: EM13507476

Reference no: EM13507476

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