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In December 2016, Buddy rents an apartment to Gary. Buddy receives the first and last months rent of $1,200 plus a security deposit of $500.

In December 2016, Buddy rents an apartment to Gary. Buddy receives the first and last months rent of $1,200 plus a security deposit of $500. How much income does Buddy, a cash basis taxpayer,report in 2016?

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