QUESTIONS Jeremy is a calendar year taxpayer who sometimes leases his business equipment to local organizations. He recorded the following receipts this year: $1,040 from the Ladies' Club for leasing the trailer from December of this year through March of next year ($260 per month). How much of this payment is taxable income to Jeremy this year if Jeremy is a cash-method taxpayer? QUESTION 6 Jeremy is a calendar year taxpayer who sometimes leases his business equipment to local organizations. He recorded the following receipts this year: $700 lease payment received from the Men's Club this year for renting Jeremy's trailer last year. Jeremy biled them last year. How much of this payment is taxable income to Jeremy this year it Jeremy is an accrual method taxpayer