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Question 45 of 50. Sheena owns two rental houses. During the year, she was actively involved in managing the properties. The only services she provides
Question 45 of 50. Sheena owns two rental houses. During the year, she was actively involved in managing the properties. The only services she provides are minor repairs and basic maintenance of the heating, cooling, electrical, and plumbing systems. She is not a real estate professional. How should Sheena report the rent she received as payment for use of these properties? Business income, reported on Schedule C. Investment income, reported on Schedule D. Passive income, reported on Schedule E. Other income, reported on Schedule 1.
Question 45 of 50.
Sheena owns two rental houses. During the year, she was actively involved in managing the properties. The only services she provides are minor repairs and basic maintenance of the heating, cooling, electrical, and plumbing systems. She is not a real estate professional.
How should Sheena report the rent she received as payment for use of these properties?
Business income, reported on Schedule C.
Investment income, reported on Schedule D.
Passive income, reported on Schedule E.
Other income, reported on Schedule 1.
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Financial Accounting
Authors: Libby, Short
6th Edition
978-0073526881
