The Blacks own a ski condo located at 123 Buncombe Lane, Brian Head, UT 84719....
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Accounting
The Blacks own a ski condo located at 123 Buncombe Lane, Brian Head, UT 84719. The condo was rented for 185 days during 2020 and used by the Blacks for 15 days. The rental activity does not rise to the level to qualify for the QBI deduction. Pertinent information about the condo rental is as follows: Rental income $23,700 Mortgage interest reported on Form 1098 16,000 Homeowners' association dues 5,200 Utilities 3,400 Maintenance 6,600 Depreciation (assume fully depreciated) 0 The above amounts do not reflect any allocation between rental and personal use of the condo. The Blacks are active managers of the condo. The Blacks received a $2,400 EIP in 2020.
How could I figure out the right % for this part??
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