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What is a key consideration regarding the reporting requirements for rental income and expenses? a ) Classifying expenses as either deductible or nondeductible b )
What is a key consideration regarding the reporting requirements for rental income and expenses?
a Classifying expenses as either deductible or nondeductible
b Maximizing rental income to minimize tax liabilities
c Using cash basis accounting for reporting rental transactions
d Reporting rental income and expenses only if they exceed a certain threshold
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