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In light of the economic performance rules, how much is deductible by the following accrual basis calendar year taxpayer in 2020? When must any disallowed amount in 2020 be deducted in other tax years? Explain the reasoning for your answers. On December 20, 2020, Cox Corporation paid a painting contractor $12,600 to paint the interior of its warehouse building. Cox expects that the painting will be fully completed no later than February 1, 2021. In light of the economic performance rules, how much is deductible by the following accrual basis calendar year taxpayer in 2020? When must any disallowed amount in 2020 be deducted in other tax years? Explain the reasoning for your answers. On December 20, 2020, Cox Corporation paid a painting contractor $12,600 to paint the interior of its warehouse building. Cox expects that the painting will be fully completed no later than February 1, 2021