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What are the total amounts of deductions for and from agi

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Question - During 2018, Kim incurs the following expenses with respect to her beachfront condominium in Hawaii:

Expense Item Amount

Insurance $500

Repairs and maintenance 700

Interest on mortgage 3,000

Property taxes 1,000

Utilities 800

Depreciation 8,000

During 2018, Kim used the condominium 20 days for vacation. She rented it out for a total of 60 days, generating a total gross income of $9,100.

Requirement - What are the total amounts of deductions for and from AGI that Kim may take during 2018 with respect to the condominium using the IRS allocation method?

Reference no: EM132578207

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