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Carly owns a rental house. Her current tenant, Korey, signed a two-year lease and moved into the house in January 2022. At that time, Korey
Carly owns a rental house. Her current tenant, Korey, signed a two-year lease and moved into the house in January 2022. At that time, Korey paid Carly $1,500 for the first month's rent and $1,500 as a refundable security deposit. Korey paid the $1,500 rent in cash on the first of each month during the year, except in November when he replaced the water heater in exchange for his rent. The water heater would have cost Carly $1,300 to purchase and install. How much rental income must Carly report for the tax year?
$16,500
$17,800
$18,000
$19,300
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