Question: Emil Gow owns a two-family house that has two identical apartments. Gow lives in one apartment and rents out the other. In 2010, the rental
Emil Gow owns a two-family house that has two identical apartments. Gow lives in one apartment and rents out the other. In 2010, the rental apartment was fully occupied and Gow received
$7,200 in rent. During the year ended December 31, 2010, Gow paid the following:
Real estate taxes $6,400 Painting of rental apartment 800 Annual fire insurance premium 600 In 2010, depreciation for the entire house was determined to be $5,000.
What amount should Gow include in his adjusted gross income for 2010?
a. $2,900
b. $ 800
c. $ 400
d. $ 100
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