Taylor,a cash basis architect,rents the building in which his office is located for $5,000 per month.He commenced his practice on February 1,2011.In order to guarantee no rent increases during an 18-month period,he signed an 18-month lease and prepaid the $90,000 on February 1,2011.How much can Taylor deduct as rent expense for 2011?

Question

Quizplus · Accepted Answer

The Answer of Taylor,a cash basis architect,rents the building in which his office is located for $5,000 per month.He commenced his practice on February 1,2011.In order to guarantee no rent increases during an 18-month period,he signed an 18-month lease and prepaid the $90,000 on February 1,2011.How much can Taylor deduct as rent expense for 2011?

Taylor,a Cash Basis Architect,rents the Building in Which His Office