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1. Robert purchased a computer maintenance contract for the computers at his office (Robert is self employed and files a schedule C). The maintenance contract
1. Robert purchased a computer maintenance contract for the computers at his office (Robert is self employed and files a schedule C). The maintenance contract cost $6,000 and had to be prepaid. Robert is a calendar year, cash basis taxpayer and paid the contract on January 1, 2016. The contract runs through December 31, 2020. How much may Robert expense on his 2016 Schedule C? 2017? 2018? 2019? 2020?
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