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Im struggling to figure out what to deduct and add to agi c. What is Veronica's TOTAL Itemized deductions? d. What is the net increase
Im struggling to figure out what to deduct and add to agi c. What is Veronica's TOTAL Itemized deductions? d. What is the net increase in taxable income from the hobby? 2. In order to protect against rent increases on the building in which she operates a dance studio, Amy signs an 18-month lease for $36,000. The lease begins on October 1, 2016. How much of the $36,000 payment can she deduct in 2016, 20172 a If Amy is an accrual basis taxpayer? b. If Amy is a cash basis taxpayer? c If Amy is a cash basis taxpayer and the lease is a 14-month lease? c. What is Veronica's TOTAL Itemized deductions? d. What is the net increase in taxable income from the hobby? 2. In order to protect against rent increases on the building in which she operates a dance studio, Amy signs an 18-month lease for $36,000. The lease begins on October 1, 2016. How much of the $36,000 payment can she deduct in 2016, 20172 a If Amy is an accrual basis taxpayer? b. If Amy is a cash basis taxpayer? c If Amy is a cash basis taxpayer and the lease is a 14-month lease
Im struggling to figure out what to deduct and add to agi
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