Question: this is my 4th time i post this question. it is not 21400, it is not 10700. please help me with the solution. Exercise 6-26
Exercise 6-26 (Algorithmic) (LO. 2) Shanna, a"calendar year and cash basis taxpayer, rents property to be used in her business from Janice. As part of the rental agreement, Shanna pays $21,400 rent on April 1, 2022, for the 12 months ending March 31,2023 . Do not round any division. a. How much is Shanna's deduction for rent expense in 20227 b. Assume the same facts, except that the $21,400 is for 24 months' rent ending March 31,2024 . How much is $ Shanna's deduction for rent expense in 2022? $ x Feedback T Check My Work A taxpayer's accounting method is a major factor in determining taxable income. The method used determines when an item is includible in income and when an item is deductible on the tax return
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