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K Shahrukh owns a residential rental building which he purchased for $200,000 in 2023. In...

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Accounting

K Shahrukh owns a residential rental building which he purchased for $200,000 in 2023. In that year, his rental income before CCA was $5,000. In 2024, his rental income before CCA was $8,000. Sharukh always minimizes his income tax by claiming the maximum available deductions. Which of the following statements is correct? OA. Shahrukh has rental loss of $7,000 in 2023. OB. Shahrukh has rental income of nil in 2024. OC. Shahrukh has a rental loss of $3,000 in 2023. OD. Shahrukh has rental income of $200 in 2024. www 4 a.m

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