What is the amount of income reported as taxable
Question: In December 200x, Max, a cash basis taxpayer, rents an apartment to Charlie. Max receives both the first and last months' rent totaling $1,000 plus a security deposit of $400. What is the amount of income reported as taxable in 200x?
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Max receives both the first and last months' rent totaling $1,000 plus a security deposit of $400. What is the amount of income reported as taxable in 200x?
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