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Author Question: A taxpayer uses an allowance method (i.e. aging method) of calculating bad debt expense for purposes ... (Read 82 times)

sam.t96

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on: Sep 13, 2020

Question 1

A taxpayer guarantees another person's obligation and is forced to pay the debt under the terms of the guarantee.  The original debtor does not repay the taxpayer.  The taxpayer/guarantor may deduct the loss.
◦ true
◦ false

Question 2

A taxpayer uses an allowance method (i.e. aging method) of calculating bad debt expense for purposes of the business' financial statements. For income tax purposes, she will also use the allowance method to calculate the bad debt deduction.
◦ true
◦ false
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by sam.t96 on Sep 13, 2020

recede

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Reply #1 on: Sep 13, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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sam.t96

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Reply 2 on: Sep 13, 2020
Thanks for the timely response, appreciate it

rachel

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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