1. Armani owns a vacation house at the lake. He rents it out occasionally when he's unable to use it. Armani must report all of the rental income he receives on his tax return __________.

A. Even if he only rents the house one weekend a year.

C. Unless he rents the vacation house at less than fair rental price.

D. When he rents the vacation house 15 days or more in a year.

2. Partnership WXYZ has one limited partner that is a partnership (with two partners), one limited partner that is a corporation, and two individual general partners. How many Schedules K-1 must be filed by partnership WXYZ?

Four???