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In September 2021, Kevin paid $5,800 for an insurance policy that covers his business property for accidents and casualt
Posted: Sun Apr 10, 2022 8:27 am
by answerhappygod
- In September 2021 Kevin Paid 5 800 For An Insurance Policy That Covers His Business Property For Accidents And Casualt 1 (25.03 KiB) Viewed 24 times
In September 2021, Kevin paid $5,800 for an insurance policy that covers his business property for accidents and casualties. The policy covers the business property from March 1, 2022, through February 28, 2023. Kevin is a calendar-year taxpayer who uses the cash method of accounting. What amount of the insurance premium may Kevin deduct in 2021?