Question: Stuart operates a sole proprietorship using the cash method. This year Stuart made the following expenditures: $600 to U.S. Bank for 12 months of interest

Stuart operates a sole proprietorship using the cash method. This year Stuart made the following expenditures: $600 to U.S. Bank for 12 months of interest accruing on a business loan from September 1^st of this year through August 31^st of next year. $600 for 12 months of property insurance beginning on July 1 of this year. What is the maximum amount Stuart can deduct this year?

		$800
		$600
		$1,200
		$360
		$400

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