Question

Several years ago, Junior acquired a home that he vacationed in part of the time and rented out part of the time. During the current year Junior: Personally stayed in the home for 22 days. Rented it to his favorite brother at a discount for 10 days. Rented it to his least favorite brother for 8 days at the full market rate. Rented it to his friend at a discounted rate for 4 days. Rented the home to third parties for 58 days at the market rate. Did repair and maintenance work on the home for 2 days. Marketed the property and made it available for rent 150 days (but did not rent it out) during the year, in addition to the days mentioned above. How many days of personal use and how many days of rental use did Junior experience on the property during the year

Answer 1

the no of days for personal use and rental use is 44 days and 58 days respectively

Step-by-step explanation:

The computation of the no of days for personal use and rental use is as follows:

For personal use

= 22 + 10 + 8 + 4

= 44 days

And, for rental use it is equivalent to the given rented days i.e. 58 days

hence, the no of days for personal use and rental use is 44 days and 58 days respectively