The Cold War ended with the collapse of the Soviet Union, an…

The Cold War ended with the collapse of the Soviet Union, and Western companies and financiers began to invest heavily in what were once called the Warsaw Pact countries. Big multinational companies and their advertising agencies went on a binge, buying other big companies and adding a new term for this process to the financial lexicon. This term was

Jackie and Ben own a mountain cabin in New Mexico. This year…

Jackie and Ben own a mountain cabin in New Mexico. This year, they rented the cabin out for 12 days (total rent received was $6,000). The rest of the year, the chalet was used by them and their friends and family. What is the proper tax treatment of the $6,000 income?