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What expenses are allowed on rental property

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Reference no: EM13303677

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IRS Code Section 280A provides guidance on what expenses are allowed on rental property and how to allocate those expenses.

  • Use the tax research methodology to research the regulations regarding rental income and expenses.
  • Describe your research findings. 
  • Do you believe the allocations outlined in Code Section 280A are appropriate? Why or why not? 
  • For taxpayers who own rental property, this could be a potential area used to reduce their taxable income. What are the ethical and legal ramifications of misusing the treatment of rental property expenses?

Reference no: EM13303677

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