Bill McDonald, a cash-basis taxpayer, is the owner of a house with two identical apartments. He resides in one apartment and rents the other apartment to a tenant under a 5-year lease dated March 1, 2016, and expiring on February 28, 2021. The tenant made timely monthly rental payments of $500 for the months of January through November 2018. Rents for December 2018 and January 2019 were paid by the tenant on January 5, 2019. The following additional information for 2018 was available: Fuel and utilities $3,600 Depreciation of building 3,000 Maintenance and repairs (rental apartment) 400 Insurance on building 600 What amount should McDonald report as net rental income for 2018

Answers

Answer 1
Answer:

Answer:

$6,000

Explanation:

Monthly rental payments: $500 x 12 = $6,000

Although the December 2018 payment was not paid in 2018, it was recorded too.

Bill is a cash-basis taxpayer; hence, his net rental income is not deducted other relating expenses like depreciation, maintenance and repairs, insurance fee. Fuel and utilities are not relating expense.


Related Questions

I retold all of Sue Sylvester's jokes is this the correct passive voice
critically evaluate the role of a person's rights and responsibilities when executing freedom of expression during verbal interpersonal conflicts
Jeanne was born in the United States. According to the Japanese language, this means she is a (an)a. Sansei b. Nisei c. Issei d. Risei
By age 6, children have a spoken vocabulary of around ________ words. Answer 500 1,000 2,500 10,000
Brittany wants to make cookies for the whole 4th grade one batch of dough make two dozen of cookies there are 68 4th graders at her school is it reasonable to say that Britney will need that you need more than two batches of dough explain

What causes people to take credit for success and deny responsibility for failure

Answers

i would have to say its self serving bias 
selfishness and lack of empathy, people want praise and not negative results 

When there is a positive ΔG, what does it indicate about the chemical reaction? Is it: a) Endothermic. b) Endergonic. c) Enthalpic. d) Spontaneous. e) Exothermic.

Answers

the reaction is a nonspontaneous endergonic reaction

Steinbeck writes that the Allens's ranch is a place where "there was little work to be done." How does the setting parallel Elisa's feelings about ranching?A. Elisa enjoys the free time and wants to have all of her friends over.
B. Elisa feels bored with ranch life and wants more adventure in her life.
C. Elisa feels satisfied and loves ranch life.
D. Elisa is tired of having to do all of the work on the ranch.

Answers

The answer is "B. Elisa feels bored with ranch life and wants more adventure in her life."


Ranching is practice with regards to raising dairy cattle and domesticated animals with the end goal of meat and wool. Ranching is polished in open areas,with all the appropriate structures and executes expected to raise cows and animals creatures. The place is called Ranch.

Ranching is for the most part prevalent in western nations and in a few territories in Europe.

B. Elisa feels bored with ranch life and wants more adventure in her life.

Alcătuiește cel puțin un context in care cuvintele: climat, explozie, căldura sa apară utilizate cu sensul figurat

Answers

Answer
1. După ce a câștigat alegerile, noul primar a adus o "explozie" de schimbări și inovații în administrația locală, sperând să îmbunătățească "climatul" politic și economic al orașului.


2. În cadrul conferinței despre schimbările climatice, experții au discutat despre "căldura" crescândă a dezbaterilor publice cu privire la protecția mediului și necesitatea acțiunilor imediate.

Explanation:

Match each character in Tartuffe with the best matches his or her. A)wants to attack Tartuffe, but is restrained by Dorine.
B)disgusted by the family's disrespect for Tartuffe
C)overly influenced by Tartuffe
D)speaks her mind to everyone despite her station
E)obeys her family despite her heartache
F)lays a trap for Tartuffe
G)advises Orgon to be patient in all things
H)secretly lusts after Elmire


19. Madame Pernelle
20. Orgon
21. Tartuffe
22. Elimire
23. Damis
24. Cleante
25. Dorine
26. Mariana

Answers

The right answer for the question that is being asked and shown above is that:

19. Madame Pernelle = >E)obeys her family despite her heartache
20. Orgon = >A)wants to attack Tartuffe, but is restrained by Dorine.
21. Tartuffe => H)secretly lusts after Elmire22. Elimire =>  F)lays a trap for Tartuffe 
23. Damis => C)overly influenced by Tartuffe 
24. Cleante => G)advises Orgon to be patient in all things
25. Dorine => B)disgusted by the family's disrespect for Tartuffe
26. Mariana = >D)speaks her mind to everyone despite her station

Riassunto su anassimandro?​

Answers

Answer:

Explanation:

in english

Anaximander is said to have been a pupil or associate of the Greek philosopher Thales of Miletus and to have written about astronomy, geography, and the nature of things. ... Anaximander held an evolutionary view of living things. The first creatures originated from the moist element by evaporation.

in Italian

Si dice che Anassimandro sia stato allievo o socio del filosofo greco Talete di Mileto e abbia scritto di astronomia, geografia e natura delle cose. ... Anassimandro aveva una visione evolutiva degli esseri viventi. Le prime creature provenivano dall'elemento umido per evaporazione.