Vincent receives $10,000 (fair rental value) for renting out his luxury log cabin for 10 days to a third party. Vincent personally uses the cabin for 90 days. The property tax expense for the log cabin is $2,000. What does Vincent report for these activities on his tax return? He reports no rental activity and a $2,000 itemized deduction for property taxes. He reports net rental activity income of $9,800 and a $1,800 itemized deduction for property taxes. He reports net rental activity income or $8,000. He reports $10,000 in rental activity