An individual purchased a rental property for $120,000 in 2020. In 2021, the individual received gross rents of $12,000, incurred operating expenses of $10,000 and had an opening undepreciated capital cost (UCC) of $60,000. What would be the net rental income or (loss) in 2021?

Multiple Choice

$(400)

$0

$2,000

$12,000

Answer rating: 100% (QA)

To calculate the net rental income or loss for 2021we need to cons... View the full answer