Business income, reported on Sched O Investment income, reported on Sche O Passive income, reported on Schedu O Other income, reported on Schedule
Business income, reported on Sched O Investment income, reported on Sche O Passive income, reported on Schedu O Other income, reported on Schedule
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:**Question 45 of 50**
Sheena owns two rental houses. During the year, she was actively involved in managing the properties. The only services she provides are minor repairs and basic maintenance of the heating, cooling, electrical, and plumbing systems. She is not a real estate professional.
How should Sheena report the rent she receives as a payment for use of these properties?
- O Business income, reported on Schedule C.
- O Investment income, reported on Schedule D.
- O Passive income, reported on Schedule E.
- O Other income, reported on Schedule 1.
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