Luke owns a condominium in a resort town. In 2022, he rented the property for 10 days. He used the condominiusdo. 70 Ways for his own personal use. The condom in 20122, he ronted the property for 10 d. Lukt had rentat income of 55, 000. Tor which he did not receive a Form 1099-MISC or Form 1099-K. He paid $2,400 for repairs.

How should the income and expenses from this activity be reported on Luke's 2022 tax return?

O $5,000 income, $2,400 expenses on Schedule E.

O $5,000 income, $800 expenses on Schedule E.

O $5,000 income on Schedule 1, Other income, So expenses.

O He does not have to report any of the income or expenses on his tax retum.