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eBook Discussion Question 1 6 - 7 ( LO . 2 ) In December 2 0 2 2 , Nell, Inc., an accrual basis taxpayer,

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Discussion Question 16-7(LO.2)
In December 2022, Nell, Inc., an accrual basis taxpayer, paid $12,000 for insurance premiums for the 2023 calendar year.
How much of the premiums can Nell, Inc., deduct in 2022?
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