John Jefferson dies on November 10, 2019. John is on the cash basis of accounting for tax

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John Jefferson dies on November 10, 2019.

John is on the cash basis of accounting for tax purposes. On November 29, 2019, a $4,000 paycheck covering the period November 1—

November 8, 2019, is mailed to John’s home.

Who recognizes this paycheck as income?

Would your answer to this question change if John was on the accrual basis of accounting at the date of his death?

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CCH Federal Taxation Basic Principles 2020

ISBN: 9780808051787

2020 Edition

Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback

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Question Posted: Feb 27, 2024 03:05 AM

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John Jefferson dies on November 10, 2019. John is on the cash basis of accounting for tax

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a Since John is on the cash basis of accounting income is generally recognized when received If the ...View the full answer

CCH Federal Taxation Basic Principles 2020

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