Every year, a college basketball tournament is held in Candice's city. She rents out her condominium...
Every year, a college basketball tournament is held in Candice's city. She rents out her condominium during the week long tournament while she goes out of town on vacation. She receives 1,675 rental income for the week. As her Tax Professional how do you report this income?
Homework Answers
Answer:
Since she rents out her condominium for the week long tournament (while she goes out of town on vacation) only during a year, the income is not reported because the property was rented for fewer than 15 days.
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Every year, a college basketball tournament is held in Candice's
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