Question: 6 On May 1 , 2 0 x 1 , Maggie Mays ( cash basis ) leases property she owns to Tommy Thompson for rent
On May x Maggie Mays cash basis leases property she owns to Tommy Thompson for rent of $ per month. Tommy pays Maggie $ as a damage deposit which will be returned at the end of the lease term. In addition, Tommy pays Maggie $ as advance rent which is to be applied to rent for the last six months of the lease term. The lease runs for a one year period beginning on May x What is Maggie's rental gross income for x Assume that Tommy also makes six other $ rental payments to Maggie during x
$ B c
None of the above
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