Tyler Has Rented a House from Camarah Since Last Year

question 19

Multiple Choice

Tyler has rented a house from Camarah since last year.The rent is usually $1,200 per month,but Camarah reduced the monthly rent down to $200 for all twelve months this year in exchange for Tyler putting in an inground pool in the backyard.The improvement has a fair market value of $20,000.How much total rental income must Camarah report this year?

• A)$14,400
• B)$12,000
• C)$2,400
• D)$22,400

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Definitions:

Future In-Laws

The parents of one's fiancé(e) or the parents of one's child's spouse, who are likely to become part of one's extended family through marriage.

Better Acquainted

The process of getting to know someone or something more thoroughly.

Passive-Congenial Marriage

The partners have little emotional investment in the marriage and few expectations of each other.

Low Emotional Investment

a state or condition wherein an individual shows minimal emotional commitment or attachment to a task, activity, or relationship.