Richard Owns a Cabin in Utah That He Rented for $4,000

question 118

Multiple Choice

Richard owns a cabin in Utah that he rented for $4,000 for 21 days.He lived there for a total of 120 days.The expenses for the home included $8,000 in mortgage interest,$1,200 in property taxes,$1,300 in maintenance and utilities,and $3,500 in depreciation.How much net income or loss from the Utah home would Richard report for the current year (use the IRS method) ? (Round your answer to the nearest whole number)

• A)$0.
• B)$1,915 net income.
• C)$4,000 net income.
• D)$10,000 net loss.

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Definitions:

Ilium

The largest of the three bones making up the pelvis, contributing to the hip joint.

Acetabulum

Cup-shaped depression on the external surface of the coxa.

Articulates

Refers to two or more bones that connect in a joint, allowing for various degrees of movement or stability in the skeleton.

Femur

The thigh bone, which is the longest, largest, and strongest bone in the human body, connecting the hip to the knee.