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What is the proper tax treatment

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Question - Matt and Marie own a vacation home at the beach. During the year, they rented the house for 42 days at $940 per week and used it for personal use for 58 days. The total costs of maintaining the home are as follows:

Mortgage interest $4,400

Property taxes 800

Insurance 1,350

Utilities 3,350

Repairs 1,950

Depreciation 5,700

Required - What is the proper tax treatment of this information on their tax return using the Tax Court method?

Reference no: EM133127568

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