Description of this paper

Hoyt rented office space two years ago to Harris, receiving the

Description

solution


Question

Hoyt rented office space two years ago to Harris, receiving the first and last months' rent plus a;security deposit of $2,400. In early January of this year, Harris moves and Hoyt refunds $1,050 of;the deposit and keeps the remainder to cover $750 which is spent for repairs to the office space;and one week of unpaid rent that amounts to $600. How would this information be reflected on;Hoyt's tax return this year?;A) $1,350 income and $750 deduction B) $600 income and $750 deduction;C) $1,350 income and no deduction D) $2,400 income and $750 deduction

 

Paper#24746 | Written in 18-Jul-2015

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