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  3. you interviewed a new client and these were the fa

You interviewed a new client and these were the facts provided. Provide them with a...

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Accounting

You interviewed a new client and these were the facts provided. Provide them with a briefexplanation of tax reason for each.
They own a vacation home that they used for 1 week in April and 2 weeks in mid-June. The
vacation home was rented out during the summer months from June 25 through September
25 for $5,000 each month. The real estate taxes are $6,800 for the year, mortgage interest
of $2,200, utilities are $400 a month and maintenance is $200 a month. The original cost of
the home was $180,000 and was depreciated for 5 years already.

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