Business, 13.12.2019 17:31, kraigstlistt

Kenneth lived in his home for the entire year except for when he rented his home (near a very / nice ski resort) to a married couple for 14 days in december. the couple paid kenneth $14,000 in rent for the two weeks. kenneth incurred $1,000 in direct expenses relating to the home for the 14 days. which of the following statements accurately describes the manner in which kenneth should report his rental receipts and expenses for tax purposes.

a) kenneth would include rental receipts in gross income and deduct rental expenses for agi
b) kenneth would exclude the rental receipts from gross income and deduct the rental expenses for ag

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Kenneth lived in his home for the entire year except for when he rented his home (near a very / nice...