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James Rents His Vacation Home for 30 Days During the Year

Question 12

Multiple Choice

James rents his vacation home for 30 days during the year and lives in it personally for 10 days. He receives rents of $4,000 and incurs the following expenses before allocation: James rents his vacation home for 30 days during the year and lives in it personally for 10 days. He receives rents of $4,000 and incurs the following expenses before allocation: What is James' income or loss from the rental property? A) $ - 0 - B) $1,000 loss C) $1,250 loss D) $1,000 income E) $1,200 income What is James' income or loss from the rental property?


A) $ - 0 -
B) $1,000 loss
C) $1,250 loss
D) $1,000 income
E) $1,200 income

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