### Hoyt''s tax return

Assignment Help Accounting Basics
##### Reference no: EM13111691

Hoyt rented office space two years ago to Harris, receiving the first and last months' rent plus a security deposit of \$2,400. In early January of this year, Harris moves and Hoyt refunds \$1,050 of the deposit and keeps the remainder to cover \$750 which is spent for repairs to the office space and one week of unpaid rent that amounts to \$600. How would this information be reflected on Hoyt's tax return this year?

A) \$1,350 income and \$750 deduction B) \$600 income and \$750 deduction
C) \$1,350 income and no deduction D) \$2,400 income and \$750 deduction

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