34. The Groves own a beach house as a second home. This year, the Groves...
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34. The Groves own a beach house as a second home. This year, the Groves used the beach house personally for 4 months. For 14 days during the summer, the Groves rented out their beach house for $5,000 total to friends. Which statement is true regarding the taxability of the Groves' beach house? a. $5,000 is included in gross income. b. Mortgage interest paid on the beach house is dductible. C. All repair expenses on the beach house are deductible. d. Depreciation expense on the beach house is deductible
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