eft:0:57:09 Attempt 1 Use the following information to answer the "fill in the blanks" question: Jimmy Fallon acquired 3 rental properties in 2020 as follows: Property 1 Property 2 Property 3 Land $10.000 12,000 30,000 Building $40,000 42,000 70,000 Total $ 50,000 54,000 100,000 In 2020, the rent revenue before expenses for all three properties was $42,000. The expenses, not including CCA, for all three properties were $32,000 (property taxes, insurance, interest and maintenance). Question 32 (4 points) Listen What is the minimum amount of net rental income to be reported in 2020? AJ What is the UCC balance for each class of rental properties at December 31, 2020? A/ What is the maximum amount of CCA that can be deducted in 2020 if the net rental income before CCA was $7,000? AJ 20 F5 F6 F4 A # 3 $ 4 % 5 & 7 8 9 2 W E R. T Y