John and Mary own a duplex (A duplex is an apartment building with just two apartments in it.). John and Mary live in one side of the apartment house and rent out the other half. They received $30000 in rental income. They incurred the following expenses for the entire building. Insurance $6000 Utilities $8000 Depreciation $5000 Maintenance $700 What amount of net income should John and Mary report for rental income?

Answer rating: 100% (QA)

To calculate the net income from rental income for John and Mary we need to subtra... View the full answer