The rental property is an apartment complex (building cost $1.5 million and was purchased January...
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The rental property is an apartment complex (building cost $1.5 million and was purchased January 5, 2019) with 30 units that rent for $27,000 per month and are at 90% occupancy. Rental income $ 291,600 Salaries 115,000 Payroll taxes 8,798 Real estate taxes 18,750 Interest 45,000 Repairs and maintenance 29,000 Depreciation (Calculate) The following information is also for the year: 1099-INT Old Bank $ 22,000 1099-DIV Dell, Inc. Ordinary dividends 15,250 Qualified dividends 15,250 1099-DIV IBM, Inc. Ordinary dividends 8,650 Qualified dividends 8,650 1099-DIV Pepsi, Inc. Ordinary dividends 18,785 Qualified dividends 18,785 1099-MISC Box 2 royalties 152,300 Purchased Sold Sale Price Basis Gain/Loss Dell (held 9 mo.) 12/01/18 09/01/19 $ 15,000 $ 9,000 $ 6,000 Pepsi (held 4 mo.) 09/01/19 12/29/19 17,000 25,000 (8,000 ) IBM (held 30 mo.) 06/05/17 12/05/19 38,000 20,000 18,000
Please calculate OBI ???
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