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Jim owns an apartment building with 1 0 identical units. He lives in one unit and rents the other nine to unrelated individuals. On April
Jim owns an apartment building with identical units. He lives in one unit and rents the other nine to unrelated individuals. On April of the current year, Jim paid property insurance on the apartment building for a year period beginning April of the current year. The total insurance premium was $ Assume Jim is a cashbasis, calendaryear taxpayer. What amount is Jim's rental expense in the current year for the insurance policy? Answer is how to get the answer
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