Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps

تمرين 14

Ginny owns a house in northern Wisconsin that she rents for $1,600 per month. Ginny does not use the property personally. While she was in Europe for Christmas, the water heater on the property failed, and her tenants repaired it for $1,200. For the following month's rent (January), her tenants paid her $400 for rent ($1,600 - $1,200). What amounts should Ginny include for rental income and repair expense, respectively, for January? a. $400; $0.
B) $1,200; $400.
C) $1,600; $400.
D) $1,600; $1,200.