Question
Assuming the same facts in 12 except that Patricia makes the Reduced Deduction Election. What, if any, is the amount of her 2017 deduction, and
Assuming the same facts in 12 except that Patricia makes the Reduced Deduction Election. What, if any, is the amount of her 2017 deduction, and the amount of carryover to 2018?
a.2017 Deduction is $65,000 and the carryover is $0
b.2017 Deduction is $60,000 and the carryover is $5,000
c.2017 Deduction is $55,000 and the carryover is $10,000
d.2017 Deduction is $55,000 and the carryover is $0
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Financial Accounting
Authors: Jan Williams, Susan Haka, Mark S Bettner, Joseph V Carcello
17th edition
978-1259692390
