Becky is a cash basis taxpayer with the following transactions during her calendar tax year: $\begin{array}{l}
\text { Cash basis revenue}&\$ 54,000\
\text {Cash basis expenses, except rent }& \$ 25,000\\text { Rent expense (paid on December } 1 \text { ) for use of a building for } 18 \text { months }&\$36,000
\end{array}$
What is the amount of Becky's taxable income from her business for this tax year?

Question

Becky is a cash basis taxpayer with the following transactions during her calendar tax year: $\begin{array}{l}
\text { Cash basis revenue}&\$ 54,000\
\text {Cash basis expenses, except rent  }& \$ 25,000\\text { Rent expense (paid on December } 1 \text { ) for use of a building for } 18 \text { months }&\$36,000
\end{array}$
 What is the amount of Becky's taxable income from her business for this tax year?

Quizplus · Accepted Answer

The Answer of Becky is a cash basis taxpayer with the following transactions during her calendar tax year: $\begin{array}{l}
\text { Cash basis revenue}&\$ 54,000\
\text {Cash basis expenses, except rent  }& \$ 25,000\\text { Rent expense (paid on December } 1 \text { ) for use of a building for } 18 \text { months }&\$36,000
\end{array}$
 What is the amount of Becky's taxable income from her business for this tax year?

Becky Is a Cash Basis Taxpayer with the Following Transactions