Adelene, who lives in a winter resort area, rented her personal residence for 14 days while she was visiting Brussels. Rent income was $5,000. Related expenses for the year were as follows:
|
Real property taxes |
$ 3,800 |
|
Mortgage interest |
7,500 |
|
Utilities |
3,700 |
|
Insurance |
2,500 |
|
Repairs |
2,100 |
|
Depreciation |
15,000 |
Determine the effect on Adelene’s AGI.