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Question 2 2 pts Ralph, a cash basis taxpayer, owns a five-story office building that he leases to various tenants. During the year, he signed
Question 2 2 pts Ralph, a cash basis taxpayer, owns a five-story office building that he leases to various tenants. During the year, he signed a three-year lease with a tenant and received a check of $6,000 for the following: - Rent for November 1, 2020 to October 1, 2021 $5,000 -Advance rent for last three months of lease -Security deposit (refundable) 400 For the current year, 2020, Ralph must report income of 600 O $6,000 $5,600 $5.000 $832 Some other amount
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