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What constitutes a payment in determining when a cash-basis taxpayer is entitled to deduct an expense? A. Payment can be by check that is honored
What constitutes a payment in determining when a cash-basis taxpayer is entitled to deduct an expense? A. Payment can be by check that is honored in due course. C. A taxpayer's note is considered to be the equivalent of cash and so a payment made by issuing a note constitutes a payment. D. Both A and B are correct
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