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no hand-writing 11. L0.2 Aubry, a cash basis and calendar year taxpayer, decides to reduce his taxable income for the current year by buying $65,000
no hand-writing
11. L0.2 Aubry, a cash basis and calendar year taxpayer, decides to reduce his taxable income for the current year by buying $65,000 worth of supplies for his business on December 27, 2022. Aubry thinks it will take more than a year to use up the supplies. a. Can Aubry deduct the expenditure for 2022? Explain. b. Would your answer in part (a) change if Aubry bought the supplies because the seller was going out of business and offered a large discount on the price? Explain Step by Step Solution
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To address Aubrys situation lets consider the fundamental tax principles for a cash basis taxpayer a ...Get Instant Access to Expert-Tailored Solutions
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