Multiple Choice
Brad and Kate received $9,500 for rent from Mike and Janet,who are renting their home in Santa Ana,California.Brad and Kate did not use this property for personal use.The rent covers eight months from August 1 of the current year to March 31 of the following year.The amount also includes a security deposit of $1,500.How much should Brad and Kate report as rental income in the current tax year?
A) $1,500
B) $5,000
C) $8,000
D) $9,500
Correct Answer:
Verified
Correct Answer:
Verified
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