b. The policy begins on February 1 of year 1 and extends through January 31 of...

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b. The policy begins on February 1 of year 1 and extends through January 31 of year 2 Deductible amount Required information [The following information applies to the questions displayed below] In January of year O. Justin paid $6,800 for an insurance policy that covers his business property for accidents and casualties. Justin is a calendar-year taxpayer who uses the cash method of accounting What amount of the insurance premium may Justin deduct in year O in each of the following alternative scenarios? Note: Leave no answers blank. Enter zero if applicable. a. The policy covers the business property from April 1 of year 0 through March 31 of year 1. Deductible amount c. Justin pays $8,000 for a 24-month policy that covers the business from April 1, year 0, through March 31, year 2. Note: Do not round intermediate calculations. Deductible amount d. Instead of paying an insurance premium, Justin pays $6,800 to rent his business property from April 1 of year 0 through March 31 of year 1 Deductible amount b. The policy begins on February 1 of year 1 and extends through January 31 of year 2 Deductible amount Required information [The following information applies to the questions displayed below] In January of year O. Justin paid $6,800 for an insurance policy that covers his business property for accidents and casualties. Justin is a calendar-year taxpayer who uses the cash method of accounting What amount of the insurance premium may Justin deduct in year O in each of the following alternative scenarios? Note: Leave no answers blank. Enter zero if applicable. a. The policy covers the business property from April 1 of year 0 through March 31 of year 1. Deductible amount c. Justin pays $8,000 for a 24-month policy that covers the business from April 1, year 0, through March 31, year 2. Note: Do not round intermediate calculations. Deductible amount d. Instead of paying an insurance premium, Justin pays $6,800 to rent his business property from April 1 of year 0 through March 31 of year 1 Deductible amount