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Abby Owns a Condominium in the Great Smokey Mountains Using the IRS Method of Allocating Expenses,the Amount of Depreciation

question 108

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Abby owns a condominium in the Great Smokey Mountains.During the year,Abby uses the condo a total of 21 days.The condo is also rented to tourists for a total of 79 days and generates rental income of $12,500.Abby incurs the following expenses:  Expense  Amount  Mortgage interest $4,100 Property taxes 1,900 Utilities 2,200 Insurance 1,200 Depreciation 10,000\begin{array} { | l | r | } \hline \text { Expense } & \text { Amount } \\\hline \text { Mortgage interest } & \$ 4,100 \\\hline \text { Property taxes } & 1,900 \\\hline \text { Utilities } & 2,200 \\\hline \text { Insurance } & 1,200 \\\hline \text { Depreciation } & 10,000 \\\hline\end{array} Using the IRS method of allocating expenses,the amount of depreciation that Abby may take with respect to the rental property will be

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Feminine

Pertaining to qualities or characteristics traditionally associated with women or girls, often contrasted with masculine.

Traditional Co-Workers

Colleagues who adhere to conventional workplace norms and practices, often valuing historical precedents in professional settings.

Intelligence

The ability to acquire and apply knowledge and skills, involving processes like reasoning, problem-solving, and learning.

Achievement

The successful completion or reaching of a goal, often recognized or awarded.

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