Lester rents his vacation home for 6 months and lives in the home during the other 6 months of 2016 . The gross rental income from the home is $4,500 . For the entire year, real estate taxes are $800, interest is $3,000, utilities and maintenance expenses are $2,200, and depreciation expense on the entire home would be $4,000 . What is Lester's allowable net loss from renting his vacation home?
a. $5,500 loss
b. $3,000 loss
c. $500 loss
d. $250 loss
e. None of the above
e
Business
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