Question: A taxpayer incorrectly took a $ 5 , 0 0 0 deduction ( e . g . , incorrectly calculated depreciation ) in 2 0

A taxpayer incorrectly took a $5,000 deduction (e.g., incorrectly calculated depreciation) in 2023 and as a result, his
taxable income was reduced by $5,000. The taxpayer discovered his error in 2024. The taxpayer must add $5,000 to
his 2024 gross income in accordance with the tax benefit rule to correct for the 2023 error.
a. True
b. False
A taxpayer incorrectly took a $5,000 deduction (e.g., incorrectly calculated depreciation)

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