Question
Latanya rented her home for 14 days and mad $75,000 of rental income through and online rental platform. the platform sent Latanya From 1099K, payment
Latanya rented her home for 14 days and mad $75,000 of rental income through and online rental platform. the platform sent Latanya From 1099K, payment Card and Third Partay Network Transactions, reporting the $75,000 in payments she received. Which of the following situations should be reported to the IRS?
a write a letter to the IRS seeking approval to exclude the income.
b Report a the income on Schedule E and attach a statement indicating it's not taxable
c report the income on Schedule l, line 8
d report the income on schedule l, line 8 and attach a statement indicating it's not taxable
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