Solution-What amounts are deductible this year

What amounts are deductible this year

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Reference no: EM132601590

Question - Ben, a cash basis taxpayer, makes the following payments on August 31 of this year:

$3,170 for the next 14 months of utilities.

$2,300 for insurance over the next 12 months.

$740 for the next 10 months of interest on a business loan.

What amounts are deductible this year?

Reference no: EM132601590

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What amounts are deductible this year

Reference no: EM132601590

Reference no: EM132601590

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