s two rental houses. During the year, she was actively involved in managing the properties. The only services she probides are minor repairs and basic maintenance of the heating, cooling, electrical, aned plumbing systems. She is not a real estate professional. How should Shenna report the rent she received as payment for use of these properties? 1. Business income, reported on Schedule C. 2. Investment income, reported on Scheedule D. 3. Passive income, reported on Schedule F. 4. Other income, reported on Schedule
s two rental houses. During the year, she was actively involved in managing the properties. The only services she probides are minor repairs and basic maintenance of the heating, cooling, electrical, aned plumbing systems. She is not a real estate professional. How should Shenna report the rent she received as payment for use of these properties? 1. Business income, reported on Schedule C. 2. Investment income, reported on Scheedule D. 3. Passive income, reported on Schedule F. 4. Other income, reported on Schedule
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Sheena owns two rental houses. During the year, she was actively involved in managing the properties. The only services she probides are minor repairs and basic maintenance of the heating, cooling, electrical, aned plumbing systems. She is not a real estate professional. How should Shenna report the rent she received as payment for use of these properties? 1. Business income, reported on Schedule C. 2. Investment income, reported on Scheedule D. 3. Passive income, reported on Schedule F. 4. Other income, reported on Schedule 1.
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