During the year, Arianna rented her vacation home for 12 days for $3,400 and she used it personally for three months. The following expenses were incurred on the home: Property taxes $ 2,400 Mortgage interest 10,800 Utilities and maintenance 1,900 Depreciation 5,000 Insurance 900 Please calculate her net rental gain or loss and itemized deductions.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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During the year, Arianna rented her vacation home for 12 days for $3,400 and she used it personally for three months. The following expenses were incurred on the home:

Property taxes

$ 2,400

Mortgage interest

10,800

Utilities and maintenance

1,900

Depreciation

5,000

Insurance

900

Please calculate her net rental gain or loss and itemized deductions. 

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