Amy Finch had the following cash receipts during 2015: - Net rent on vacant lot used by a car dealer (lessee pays all taxes, insurance, and other expenses on the lot) - $6,000 - Advance rent from lessee of above vacant lot, such advance to be applied against rent for the last two months of the five-year lease in 2019. - $1,000 How much should Amy include in her 2015 taxable income for rent?

Amy Finch had the following cash receipts during 2015: - Net rent on vacant lot used by a car dealer (lessee pays all taxes, insurance, and other expenses on the lot) - $6,000 - Advance rent from lessee of above vacant lot, such advance to be applied against rent for the last two months of the five-year lease in 2019. - $1,000 How much should Amy include in her 2015 taxable income for rent?

Amy Finch had the following cash receipts during 2015:
- Net rent on vacant lot used by a car dealer (lessee pays all taxes, insurance, and other expenses on the lot) - $6,000
- Advance rent from lessee of above vacant lot, such advance to be applied against rent for the last two months of the five-year lease in 2019. - $1,000
How much should Amy include in her 2015 taxable income for rent?







a. $7,000
b. $6,800
c. $6,200
d. $6,000





Answer: A