AP 7-2 (Rental Income, Including CCA) In 2022, Ms. Alice Becker owns four single family residential rental properties. Relevant informa- tion on these properties is as follows: CCA class Capital cost of building January 1, 2022, UCC Chapter 7 Assignment Problems Rental revenues Property taxes Interest expenses Other expenses (not including CCA) 26 Hart Street Rental income (loss) before CCA $1,180,000 1 26 Hart Street $79,500 ( 17,756) ( 51,625) ( 4,500) $ 5,619 Nil 32 Barton Boulevard 1 $307,500 266,250 Rental revenues and expenses, not including CCA, for the taxation year ending December 31, 2022, are as follows: 32 Barton Boulevard $16,000 12,113) ( 5,250) ( 1,375) 14 Mark Avenue ($ 2,738) 3 $1,033,750 703,250 14 Mark Avenue $63,000 (15,500) ( 30,000) ( 6,750) 96 Flagler Street 1 $10,750 $570,000 514,800 96 Flagler Street $46,500 ( 18,550) (12,750) (10,500) $ 4,700 Other Information: 1. The property at 26 Hart Street was purchased in 2022 for $1,180,000. 2. The property at 32 Barton Boulevard was sold in 2022 for $231,000. Ms. Becker had furnished this property several years ago at a cost of $28,750. The UCC for the class 8 properties was $4,498 on January 1, 2022. Given the condition of the furnishings, they were simply given to the former tenants, who agreed to take them when they moved out. 3. In 2022, Ms. Becker spent $78,750 on capital improvements to the property at 14 Mark Avenue. While none of the changes were required, the incoming tenant insisted on the changes before agreeing to the lease. These improvements will enhance the value of this property. 4. The building at 96 Flagler Street was sold in 2022 for $653,000. Required: Calculate Ms. Becker's minimum rental income for 2022. You should provide a sepa- rate CCA calculation for each property and specify how much CCA should be claimed for each building. Include in your solution any income tax consequences associated with the sale of the two buildings and the furniture. Assume that the rental activity is not a business and that the property values and costs shown are for the building only.

AP 7.2 (Rental Income, Including CCA) In 2022. Ms. Alice Becker owns four single family residential rental properties. Rolevant informe tion on these properties is as follows. Chapter 7 Assignment Problems Rental revenues and expenses, not including CCA, for the taxation year ending December 31 . 2022, are as follows. Other Information: 1. The property at 26 Hart Street was purchased in 2022 for \\( \\$ 1,180,000 \\). 2. The property at 32 Barton Boulevard was sold in 2022 for \\( \\$ 231,000 \\). Ms. Becker had furnished this property several vears ago at a cost of \\( \\$ 28.750 \\). The UCC for the class 8 properties was \\( \\$ 4,498 \\) on January 1,2022 . Given the condition of the furnishings, they were simply given to the former tenants, who agreed to take them when they moved out 3. In 2022 , Ms. Becker spent \\( \\$ 78,750 \\) on capital improvements to the property at 14 Mark Avenue. While none of the changes were required, the incoming tenant insisted on the changes before agreeing to the lease. These improvements will enhance the value of this property. 4. The building at 96 Flagler Street was sold in 2022 for \\( \\$ 653,000 \\) Required: Calculate Ms. Becker's minimum rental income for 2022. You should provide a separate CCA calculation for each property and specty how much CCA should be claimed for each building. Include in your solution any income tax consequences associated with the sale of the two buildings and the furniture. Assume that the rental activity is not a business and that the property values and costs shown are for the building onily. AP 7-2 (Rental Income, Including CCA) In 2022. Ms. Alice Becker owns four single family residential rental properties, Aelevant informe: tion on these properties is as follows: Chapter 7 Assignment Problems Rental revenues and expenses, not including CCA, for the taxation year ending December 31 . 2022. are as follows: Other Information: 1. The property at 26 Hart Street was purchased in 2022 for \\( \\$ 1,180,000 \\). 2. The property at 32 Barton Boulevard was sold in 2022 for \\( \\$ 231,000 \\). Ms. Becker had furnished this property several years ago at a cost of \\( \\$ 28,750 \\). The UCC for the class 8 properties was \\( \\$ 4,498 \\) on January 1, 2022. Given the condition of the furnishings, they were simply given to the former tenants, who agreed to take them when they moved out. 3. In 2022, Ms. Becker spent \\( \\$ 78,750 \\) on capital improvements to the property at 14 Mark Avenue. While none of the changes were required, the incoming tenant insisted on the changes before agreeing to the lease. These improvements will enhance the value of this property. 4. The building at 96 Flagler Street was sold in 2022 for \\( \\$ 653,000 \\). Required: Calculate Ms. Becker's minimum rental income for 2022. You should provide a separate CCA calculation for each property and specify how much CCA should be claimed for each building. Include in your solution any income tax consequences associated with the sale of the two buildings and the furniture. Assume that the rental activity is not a business and that the property values and costs shown are for the building only