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Clarissa owns a rental house. Her current tenant, Corey, signed a two - year lease and moved into the house in January 2 0 2
Clarissa owns a rental house. Her current tenant, Corey, signed a twoyear lease and moved into the house in January At that time, Corey paid Clarissa $ for the first month's rent and $ as a refundable security deposit. Corey paid the $ 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 Clarissa $ to purchase and install. How much rental income must Clarissa report for the tax year?
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