Rayleen Owns a Condominium near Orlando, Florida

question 69

Essay

Rayleen owns a condominium near Orlando, Florida. This year, she incurs the following expenses in connection with her condo:
During the year, Rayleen rented the condo for 130 days and she received $25,000 of rental receipts. She did not use the condo at all for personal purposes during the year. Rayleen is considered to be an active participant in the property. Rayleen's AGI from all sources other than the rental property is $130,000. Rayleen does not have passive income from any other sources. What is Rayleen's AGI after accounting for the rental property?

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Definitions:

Ethical Dilemma

A situation in which a decision must be made between two or more morally correct actions that are in conflict.

Discrimination

Unfair treatment of individuals based on their membership in certain groups, such as race, gender, or age.

Plant Supervisor Position

A role responsible for overseeing and coordinating daily operations at a manufacturing or industrial plant.

Ethical Dilemma

A situation in which a difficult choice has to be made between two or more options, none of which resolves the situation in an ethically satisfactory way.