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Betty owns a duplex in a resort town. One unit serves as her main residence....

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Accounting

Betty owns a duplex in a resort town. One unit serves as her main residence. She rents the other fully-furnished unit whenever she can. In 2016, she rented the unit for 185 days. All of her tenants are short-term; none of them ever stay for more than a few days. When the property is rented, Betty provides her tenants with cleaning services and fresh linens on a daily basis. How does Betty report this rental income and the associated expenses on her tax return?

As income reported on Schedule E. Direct expenses are deducted on Schedule E, and allocated indirect expenses are deducted on Schedule A.

As other income, reported on Form 1040, line 21. Expenses are deducted on Schedule A.

Betty's income and expenses are reported on Schedule E.

Betty's income and expenses are reported on Schedule C.

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