Ted owns a condo in Del Mar right by the horse track. Each year, for the first 10 days of horse racing season, he lives with his girlfriend and rents his condo to friends from Los Angeles. He earns $2,000 in rental income and his only expense is $80 for cleaning at the end of the 10 days. How does Ted report this transaction on his tax return? O a. He reports the $2,000 rental income less $80 expense = $1,920 income. O b. He reports the $2,000 and allocates some of his personal expenses against it. O c. Because the rental period is fewer than 15 days the rental activity is disregarded. The $2,000 is not taxable. The $80 is also not deductible. Od. He reports the $2,000 as income, but cannot deduct the $80 cleaning since it is personal