Billy Dent, as the owner of an apartment building, receives and makes the following payments during 2019:
Question:
Billy Dent, as the owner of an apartment building, receives and makes the following payments during 2019:
How much rental income must Billy Dent include on his 2019 income tax return?
Transcribed Image Text:
Received in January 2019 rent that was due in December 2018 Received in December 2019 rent not due until January 2020 Security deposit which is to be refunded when tenant vacates the apartment $5,000 4,000 500
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Related Book For
CCH Federal Taxation Basic Principles 2020
ISBN: 9780808051787
2020 Edition
Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback
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