what is the qualified business income?

n Capital USS Callyover IUL U O Noah and Joan own a condo and use it as a rental property. The condo is located as 16 Oakwood Ave, Unit A, Dayton, OH 45409. Noah provides the management services for the rental including selection of tenants, maintenance, repairs, rent collection, and other services as needed. On average, Noah spends about 2 hours per week on the rental activity. The revenue and expenses for the year are as follows: Rental income $13,800 Insurance 575 Interest expense 6,870 Property taxes 1,016 Miscellaneous expenses 700 The home was acquired for $85,000 in 2003. No improvements have been made to the property