Barkley owns a vacation cabin that was rented to unrelated parties for 10 days during the year for $2,500. The cabin was used by Barkley for 3 months and left vacant for the rest of the year. Expenses for the cabin were as follows. Real estate taxes $1,000 Maintenance and utilities $2,000 How much real income (loss) is included in Barkley's adjusted gross income?

a. $(500)
b. $0
c. $(1,500)
d. $500

Ans: b. $0

Business

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