Tom and RoseMary own a cabin near Stowe,Vermont.During the current year the cabin is rented for 31 days for $1,800.Tom and RoseMary used the cabin a total of 12 days during the year.After making the appropriate allocation of expenses between personal and rental use,the following rental loss was determined: 
How should Tom and RoseMary report the rental income and expenses for the current year?
Definitions:
Long-Term Liabilities
Debts that will be repaid over a number of years, such as long-term loans and bond issues.
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