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#1 Johnny, a cash-basis taxpayer, owns two rental properties. For each of the transactions described below, enter in the shaded cells the amount of income

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#1 Johnny, a cash-basis taxpayer, owns two rental properties. For each of the transactions described below, enter in the shaded cells the amount of income from the rental properties that Johnny must include in his 2017 gross income. Transaction Amount 1. Property A: security deposit of $1,000 on 1-year lease received February 1, 2017 The entire deposit was returned at lease end. 2. Property A: $1,400 received February 1, 2017, for last month of lease (February 2018). 3. Property A: rent of $15,400 received in 2017 for February to December 2017. 4. Property A: tenant paid $350 in November 2017 for property repairs, with no reduction in rent paid. 5. Property B: rent of $18,000 received in 2017 for January to December 2017. 6. Property B: security deposit of $1,500 received January 1, 2017, to be used for last month's rent. 7. Property B: rent of $1,600 for January 2018 received December 28, 2017. 8. Property B: tenants paid a painting contractor $2,500 to paint the property's interior in June 2017

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