Solution-How much is shanna deduction for rent expense

How much is shanna deduction for rent expense

Reference no: EM133017470

Problem - Shanna, a calendar year and cash basis taxpayer, rents property to be used in her business from Janice. As part of the rental agreement, Shanna pays $22,600 rent on April 1, 2020, for the 12 months ending March 31, 2021.

Required -

a. How much is Shanna's deduction for rent expense in 2020?

b. Assume the same facts, except that the $22,600 is for 24 months' rent ending March 31. 2022. How much is Shanna's deduction for rent expense in 2020?

Reference no: EM133017470

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How much is shanna deduction for rent expense

Reference no: EM133017470

Reference no: EM133017470

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