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On May 1 , 2 0 x 1 , Maggie Mays ( cash basis ) leased property she owned to Tommy Patrick for rent of
On May x Maggie Mays cash basis leased property she owned to Tommy Patrick for rent of $ per month. Tommy paid Maggie $ as a damage deposit which will be returned at the end of the lease term. In addition, Tommy paid Maggie $ as advance rent which is to be applied to rent for the last six months of the lease term. The lease is to run for a one year period beginning on May x What is Maggie's rental gross income for x Assume that Tommy also made six $ other rental payments to Maggie during
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