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J esus is the owner of an apartment building containing ten identical apartments. Jesus resides in one apartment and rents out the remaining units. For
J
esus is the owner of an apartment building containing ten identical apartments. Jesus resides in one apartment and rents out the remaining units. For 2020, the following information is available:
Gross rents $21,600
Utilities for total building 2.500
Maintenance & repairs (rental apartments only) 1,050
Advertising for vacant apartments 300
Depreciation of building (All ten units) 4,000
What amount should Jesus report as net rental income for 2020?
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