Aubry, a cash basis and calendar year taxpayer, decides to reduce his taxable income for 2013 by
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2013. The supplies will be used up in 2014.
a. Can Aubry deduct the expenditure for 2013?
b. Would your answer in part (a) change if Aubry bought the supplies because the seller was going out of business and offered a large discount on the price? Explain.
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Related Book For
South Western Federal Taxation 2014 Comprehensive Volume
ISBN: 9781285180922
37th Edition
Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young
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