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wariber [46]
3 years ago
7

Mr. Smith, a cash-basis, calendar-year taxpayer, owns a duplex. He lives in one unit and rents the other unit to an unrelated in

dividual. The two units are approximately equal in size. On July 1, Year 1, Mr. Smith paid the property insurance on the duplex for the 3-year period July 1, Year 1, through June 30, Year 4. The total premium was $360. For Year 1, Mr. Smith’s rental expense for this insurance policy isA. $30
B. $60
C. $120
D. $360
Business
1 answer:
Angelina_Jolie [31]3 years ago
5 0

Answer:

Mr. Smith’s rental expense for this insurance policy is

A. $30

Explanation:

Premiun 360

N 3

year 120

From July to December 60

 

Duplex insurance e/one 30

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Answer:

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Answer:

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The same is relevant

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