et Rental Income. (Obj. 1) ye its. Sandee resides in one unit and rents out the other. The tenant made time tal payments of $500 for the months of January through November 2021. The nts for December 2021 and January 2022 on January 5, 2022. During the Ed $3,600 for utilities and $600 for insurance. These expenses were for the en and repairs on the rental unit. Depreciation om
et Rental Income. (Obj. 1) ye its. Sandee resides in one unit and rents out the other. The tenant made time tal payments of $500 for the months of January through November 2021. The nts for December 2021 and January 2022 on January 5, 2022. During the Ed $3,600 for utilities and $600 for insurance. These expenses were for the en and repairs on the rental unit. Depreciation om
Chapter6: Deductions And Losses: In General
Section: Chapter Questions
Problem 26CE
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Question
Compute Sandee’s 2021 net rental income
Transcribed Image Text:lenoijibbe
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4.
Net Rental Income. (Obj. 1) Sandee, a cash basis taxpayer, owns a house with two identical
rental payments of $500 for the months of January through November 2021. The tenant paid
rents for December 2021 and January 2022 on January 5, 2022. During the year, Sandes
paid $3,600 for utilities and $600 for insurance. These expenses were for the entire house
She paid $400 for maintenance and repairs on the rental unit. Depreciation on the entire
house equals $3,000. Compute Sandee's 2021 net rental income.
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