Each year a taxpayer must include in gross income the rental value of his or her personal residence.

Name: Each year a taxpayer must include in gross income the rental value of his or her personal residence.
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Question

Quizplus · Accepted Answer

This statement is false. Taxpayers do not have to include the rental value of their personal residence in their gross income. However, if they rent out their personal residence for all or part of the year, they may have to report that rental income on their tax return.

Each Year a Taxpayer Must Include in Gross Income the Rental