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Determine the taxable income of lessor bobby

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Reference no: EM132927204

Question - Diman, lessor leased a lot to Dili, lessee for 15 years beginning January 2019, subject to the following terms and conditions:

Mothly rental 20000

Advance rental for 2 years 480000

Security deposit

Annual RPT to be paid to lessee 10000

Cost of building constructed by lessee 2800000

Building completed on July 1, 2021 Estimated life of the building 20

Under the Spread-out method, determine the taxable income of lessor bobby for 2018, 2019, 2020, 2021, 2022. Provide step by step solution.

Reference no: EM132927204

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