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(Solved) on nov 15, alex and Deanna kent come to you for


on nov 15, alex and Deanna kent come to you for tax advice. the kents, a married couple that files a joint tax return, own a rental home in southern cali. from January to nov 1 of the current year, they rented out the home for 210 days. since they live in Minnesota, they are considering staying in their rental home from Dec 10 to the 31st. if they do not stay in their home during that period it will stay vacant. they ask you if this decision would have any tax consequences. they also provide the following info.rental home income and expensesrental income 16000mortgage interest 12,400property tax 4,300homeowners assoc. fees. 3,500deprec. 18000othe income and expensesdeannas salary 75000alex's salary 65000passive income from an investment in LLP 1,000Mortgage interest on Minnesota home 7800charitable contributions 14,200medical expenses 8,100property tax on Minnesota home 2,900state income tax 9,700 what do you recommend?

 


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Oct 15, 2019

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