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Luke owns a condominium in a resort town. In 2022 , he rented the property for 10 days. He used the condominium for 20 days
Luke owns a condominium in a resort town. In 2022 , he rented the property for 10 days. He used the condominium for 20 days for his own personal use. The condominium was not used the rest of the year. Luke had rental income of $5,000, for 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? $5,000 income, $2,400 expenses on Schedule E. $5,000 income, $800 expenses on Schedule E. $5,000 income on Schedule 1, Other income, $0 expenses. He does not have to report any of the income or expenses on his tax return
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