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This is Federal Income Tax please only answer #44-50 ...

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Accounting

This is Federal Income Tax please only answer #44-50 image
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44. IRS Adapted Problem. Mr. Garcia, a cash- basis taxpayer, owns an apartment building His records reflect the following information for 2018: Tenant G paid cost of floor repairs that were Mr. Garcia's responsibility $950 Security deposits to be returned to tenants upon expiration of their leases in 2020 1,350 Advance rents received in December for the first six months of 2019 3,000 What is the amount of gross rental income Mr. Garcia should include in his gross income? a. $2,300 b. $3,000 c. $3,950 d. $4,350 e. $5,300 44. IRS Adapted Problem. Mr. Garcia, a cash- basis taxpayer, owns an apartment building His records reflect the following information for 2018: Tenant G paid cost of floor repairs that were Mr. Garcia's responsibility $950 Security deposits to be returned to tenants upon expiration of their leases in 2020 1,350 Advance rents received in December for the first six months of 2019 3,000 What is the amount of gross rental income Mr. Garcia should include in his gross income? a. $2,300 b. $3,000 c. $3,950 d. $4,350 e. $5,300

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