Question
Karissa owns Jabin Inc. which has the following items in 2020 Taxable Income (including all deductions) $10,000 Interest Expense $1,000,000 Rent Expense $15,000 Depreciation Expense
Karissa owns Jabin Inc. which has the following items in 2020 Taxable Income (including all deductions) $10,000 Interest Expense $1,000,000 Rent Expense $15,000 Depreciation Expense $20,00 Average Annual Gross Receipts $20,000,000 How much, if any, of Jabin's interest is deductible?
| a. | None of these | |
| b. | $303,600 | |
| c. | $302,100 | |
| d. | $308,100 | |
| e. | $1,000,000 |
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From Zero To Zen Secret Keys To Nurturing Your Numbers And Finding Financial Flow
Authors: Liz Lajoie
1st Edition
1683507045, 978-1683507048
