Fred owns a four-plex. He rents out 3 units and lives in the fourth.?

Dec 182011

Fred owns a four-plex. He rents out 3 units and lives in the fourth. He has the following income and expenses for the four-plex: insurance $ 4,000, mortgage interest $ 7,200, utilities $ 2,400, repairs and maintenance $ 1,200, advertising for vacant units $ 800, property taxes $ 8,000, depreciation on the entire complex of $ 6,000, and rental Income of $ 22,500. What amount of net rental income should Fred report on his 2010 tax return?
a.1,400 net rental loss
b.100 net rental income
c.7,100 net rental loss
d.22,500 net rental income

fred own a four plex what amount of net rental income should fred report on his 2011 tax return

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