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Cornelius Owns a Condominium in Orlando Determine Cornelius's Deduction Related to the Condominium

Question 33

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Cornelius owns a condominium in Orlando.During the year,Cornelius uses the condo a total of 25 days.The condo is also rented to vacationers for a total of 75 days and generates rental income of $9,000.Cornelius incurs the following expenses:
 Mortgage interest $4,000 Property taxes 1,800 Utilities 2,000 Insurance 1,200 Depreciation 10,000\begin{array} { l r } \text { Mortgage interest } & \$ 4,000 \\\text { Property taxes } & 1,800 \\\text { Utilities } & 2,000 \\\text { Insurance } & 1,200 \\\text { Depreciation } & 10,000\end{array}
Determine Cornelius's deduction related to the condominium.Indicate the amount of each expense that can be deducted and how it would be deducted.

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The rental is a vacation home because Co...

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