(Answered) Question - hoyt rented office space two years ago to harris

Accounting

Question - 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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