Ron Remy enters into a three-year lease to rent his property. In the ﬁrst year, in addition to $9,600 for the year's rent, he received $1,600 in advance as rent for the last two months of the lease and $800 as a security deposit which he plans to return to the tenant at the end of the lease. What amount must be reported as income by Ron?

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The Answer of Ron Remy enters into a three-year lease to rent his property. In the ﬁrst year, in addition to $9,600 for the year's rent, he received $1,600 in advance as rent for the last two months of the lease and $800 as a security deposit which he plans to return to the tenant at the end of the lease. What amount must be reported as income by Ron?

Ron Remy Enters into a Three-Year Lease to Rent His