Question 42 of 75 Ros a replaced a broken heating and air conditioning unit in one of her rental houses. How will this expense be reported on Schedule E? (She will NOT make the small taxpayer election for small taxpayers.) OAs a repair, deducted as a current expense. O As an improvement, depreciated over 15 years. O As an improvement, depreciated over 27 1/2 years. As an improvement, depreciated over 31 1/2 years. Mark for follow up Question 43 of 75. Eldridge owns a rental house, which he rents at $200 per month. Similar houses in the neighborhood rent for $600 per month. As Eldridge's Tax Professional, how should you treat his rental income? 0 The income is reported, and all expenses deducted, on Schedule E. O The income is not reported because Eldridge is operating the property as a charity O The income is reported on the Other Income section on Form 1040, and rental expenses, up to the amount of income, are deducted on Schedule A