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Business, 26.12.2020 17:00 ilovejustinbieber42

Chris paid $100,000 for a single-family home on July 1, 2019, and immediately placed it in service as residential rental property. At the time, the land was valued at $10,000. The property generated $6,000 in rental income for the year. His only expenses consisted of depreciation and $500 in real estate taxes. Chris is not a real estate professional, but he does actively participate in his rental real estate activity. He has no other passive income or losses. What amount does Chris report for his total rental real estate and royalty income

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