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For Prablem 3 Questions 1,2,3,4, and 5, determine the amount included in the taxpayer's gross income for 2021: Problem 3 Question 1: (1 point) Hame
For Prablem 3 Questions 1,2,3,4, and 5, determine the amount included in the taxpayer's gross income for 2021: Problem 3 Question 1: (1 point) Hame Office, Inc, an accrual basis taxpayer, leases a copying machine to a new customer on December 27, 2021. The machine was to rent far $400 per manth for a period of 36 months beginning January 1, 2022. The customer was required to prepay 2 months rent at the time the lease was signed on December 27. The customer was also required to pay a $2,000 damage depasit at the time the lease was signed. Determine the amount of grass income Home Office recognizes in 2021. $0
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