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| Bill McDonald, a cash-basis taxpayer, is the owner of a house with two identical apartments. He resides in one apartment and rents the other apartment to a tenant under a 5-year lease dated March 1, 2010, and expiring on February 28, 2015. The tenant made timely monthly rental payments of $500 for the months of January through November 2012. Rents for December 2012 and January 2013 were paid by the tenant on January 5, 2013. The following additional information for 2012 was available: A. $1,500 B. $2,200 C. $2,000 D. $1,700 |