U IianyQuestion 45 of 50.Sheena owns two rental houses. During the year, she was actively involved in managing the properties. The only serviceshe provides are minor repairs and basic maintenance of the heating, cooling, electrical, and plumbing systems. She isreal estate professional.How should Sheena report the rent she received as navment for use of these properties?O Business income, reported on Schedule C.O Investment income, reported on Schedule D.Passive income, reported on Schedule E.Other income, reported on Schedule 1.Mark for follow up

Introduction:- The following basic information as follows under:- She is not an real estate…

Answered: Business income, reported on Sched O…

Business income, reported on Sched O Investment income, reported on Sche O Passive income, reported on Schedu O Other income, reported on Schedule

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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