Question
Donald owns a residential rental property located at 1602 Gaskin Road., Your City, Your State - Your Zip, which he purchased and placed in service
Donald owns a residential rental property located at 1602 Gaskin Road., Your City, Your State - Your Zip, which he purchased and placed in service on May 5, 2017. The cost of the property was $150,000, of which $30,000 was for the land. The total rental income was $12,600. The house was rented for the entire year. The rent was sent directly to Donald, as were any tenant requests for repairs. Expenses for the rental property include: Mortgage Interest $ 5,525 Real Estate Taxes $ 1,520 Homeowners Insurance $ 547 Repairs of Roof $ 780
What is Donald's rental income?
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