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Ola Owns a Cottage at the Beach

question 58

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Ola owns a cottage at the beach.She and her family use the property for 30 days during the summer season and rent it to unrelated parties for 60 days.The rental receipts amount to $8,000.Total costs of operating the property are as follows: Ola owns a cottage at the beach.She and her family use the property for 30 days during the summer season and rent it to unrelated parties for 60 days.The rental receipts amount to $8,000.Total costs of operating the property are as follows:   In addition,potential depreciation expense is $9,000. a.Is the cottage subject to the vacation home rental limitations of IRC Sec.280A? b.How much of expenses can Ola deduct? In addition,potential depreciation expense is $9,000.
a.Is the cottage subject to the vacation home rental limitations of IRC Sec.280A?
b.How much of expenses can Ola deduct?


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