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Business, 31.07.2019 20:30 july00

Bcorporation, an accrual basis taxpayer, is owned 75 percent by bonnie, a cash basis taxpayer. on december 31, 20x1, the corporation accrues interest of $4,000 on a loan from bonnie and also accrues a $15,000 bonus to bonnie. the bonus is paid to bonnie on march 1, 20x2; the interest is not paid until 20x3. how much can b corporation deduct on its 20x1 tax return?

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Bcorporation, an accrual basis taxpayer, is owned 75 percent by bonnie, a cash basis taxpayer. on de...
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