4 Net Rental Income Obj 1 Sandee A Cash Basis Taxpayer Owns A House With Two Monthly Rental Payments Of 500 For 1 (29.94 KiB) Viewed 57 times
4 Net Rental Income Obj 1 Sandee A Cash Basis Taxpayer Owns A House With Two Monthly Rental Payments Of 500 For 2 (29.94 KiB) Viewed 57 times
4. Net Rental Income. (Obj. 1) Sandee, a cash basis taxpayer, owns a house with two monthly 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, Sandee 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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