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Stephanie owns a rental property as a 100% interest-holder. Her daughter, Liz, manages all aspects...

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Accounting

Stephanie owns a rental property as a 100% interest-holder. Her daughter, Liz, manages all aspects of the rental and collects rent. Stephanie lets Liz keep half of the rental income for her work. Also, Stephanie intends to give the rental property to Liz sometime soon. How much of the rental income will each taxpayer report on Schedule E, Supplemental Income and Loss?..

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