QUESTION 19 On January 1, 2018, cash basis taxpayer pays $6,000 for an insurance policy which covers his business property for the period beginning April 1, 2018, and ending on March 31, 2020. How much, if any, of the $6,000 can the taxpayer deduct in 2018 (the year of payment)? a. The entire $6,000 b. $2,250 C. $3,000 O d. nothing because the expense is a prepayment QUESTION 20 Timmy has $200,000 of QBI from her neighborhood clothing store (a sole proprietorship). Tummy's proprietorship paid $30,000 in W-2 wages and has $20,000 of qualified property. Tummy and her spouse file a joint return and their Modified Taxable income is $250,000, What is their QBI deduction for 2018? a: 540,000 O b. $54,000 C 50 d. $50,000