LO.2 In December 2012, Nell, Inc., an accrual basis taxpayer, paid $12,000 for insurance premiums for her

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LO.2 In December 2012, Nell, Inc., an accrual basis taxpayer, paid $12,000 for insurance premiums for her business for the 2013 calendar year. How much of the premiums can Nell, Inc., deduct in 2012?

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