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112) Kirk and Amy live in Augusta, Georgia. Every year

Question : 112) Kirk and Amy live in Augusta, Georgia. Every year : 2125622

112) Kirk and Amy live in Augusta, Georgia. Every year during the Masters Golf Tournament, they rent their primary personal residence for 10 days for $10,000 to a large corporation that uses it to entertain clients. The rest of year, they reside full-time in their home. How should Kirk and Amy treat the rental income? Explain.

113) Explain the difference between the two methods available; the Tax Court's method and the IRS method, to allocate expenses between personal and rental use of property.

 

 

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