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Business, 22.07.2019 16:40 TheOneandOnly003

Max murphey, a cash basis taxpayer, borrowed $10,000 from a bank for a business loan on august 1, to be repaid one year later. the interest for one year at 6 percent was deducted from the loan proceeds in advance. his interest deduction for the current year is:

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Max murphey, a cash basis taxpayer, borrowed $10,000 from a bank for a business loan on august 1, to...
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