Question 59 of 75. Latanya rented her home for 14 days and made $75,000 of rental income through an online rental platform. The platform sent Latanya a Form 1099-K, Payment Card and Third Party Network Transactions, reporting the $75,000 in payments she received. How will this situation be reported to the IRS? O Write a letter to the IRS seeking approval to exclude the income. Report the income on Schedule E and attach a statement indicating it's not taxabte. Report the income on Schedule 1, line 8. Report the income on Schedule 1, line 8 and attach a statement indicating it's not taxable. Mark for follow up Neruperuun Question 60 of 75. Once a Tax Professional has determined that the taxpayer has a net operating loss (NOL) from a farming business, what is the next step for claiming an NOL? Either carry the NOL back or waive the carryback period and carry forward the NOL. Determine the amount of the taxpayer's unused NOL. Deduct the NOL in the carryback or carryforward year. Carry over the unused NOL to the next carryback or carryforward year. Mark for follow up