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Wagner Co is a cash-basis, calendar-year taxpayer. On August 1, 2016 it paid an insurance premium of $4,800 for coverage from August 1, 2016 to
Wagner Co is a cash-basis, calendar-year taxpayer. On August 1, 2016 it paid an insurance premium of $4,800 for coverage from August 1, 2016 to July 31,2017. What is the largest deduction Wagner Co. can take in 2016?
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