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Hassan is the owner of a house with two identical apartments. He resides in one apartment and rents the other apartment to a tenant. The

Hassan is the owner of a house with two identical apartments. He resides in one apartment and rents the other apartment to a tenant. The tenant made timely monthly rental payments of $550 per month for the months of January through December 2023. The following expenses were incurred on the entire building:
Utilities $3,600
Maintenance and repairs 900
Insurance 500
In addition, depreciation allocable to the rented apartment is $1,500. What amount should Hassan report as net rental income for 2023?

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