What effect does the rental activity have on her agi

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Question - Assuming Alexa receives $20,000 in gross rental receipts, answer the following questions:

a. What effect does the rental activity have on her AGI for the year?

b. Assuming that Alexa's AGI from other sources is $90,000, what effect does the rental activity have on Alexa's AGI? Alexa makes all decisions with respect to the property.

c. Assuming that Alexa's AGI from other sources is $120,000, what effect does the rental activity have on Alexa's AGI? Alexa makes all decisions with respect to the property.

d. Assume that Alexa's AGI from other sources is $200,000. This consists of $150,000 salary, $10,000 of dividends, and $25,000 of long-term capital gain and net rental income from another rental property in the amount of $15,000. What effect does the Cocoa Beach Condo rental activity have on Alexa's AGI?

Reference no: EM131774270

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