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Julian and Nina own a home in Napa Valley, California, and rented it for 14 days for $10,000 to a large corporation. The rest of
Julian and Nina own a home in Napa Valley, California, and rented it for 14 days for $10,000 to a large corporation. The rest of the year, they lived in the home. What is the proper tax treatment of the $10,000 they received?
a. The amount should be reported on Schedule E.
b. The amount should be reported as other income.
c. The amount should be reported on Schedule C.
d. None of the rental income should be included in gross income.
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