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This year, Lucy had a commercial rental property and reports the following, in order to calculate her rental income or rental loss this year. 1.
This year, Lucy had a commercial rental property and reports the following, in order to calculate her rental income or rental loss this year. 1. Rental Revenue: $10,000 2. Property Tax Expense: $2,000 3. Insurance Expense : $3,000 4. Maintenance Expense: $9,000 5. Maximum CCA: $5,000 (apply the maximum, if possible/allowed, per class review) Lucy is required to report this amount as her Rental Income/Loss, this year. $5,000 O $10,000 $0 O ($4,000)
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