Which of the following is not required for an accrual method taxpayer to currently deduct the cost of services received?
A)The liability must be paid.
B)The existence of a liability must be established.
C)The amount of the liability is determined with reasonable accuracy.
D)The services must actually be provided.

Question

Quizplus · Accepted Answer

For an accrual method taxpayer, the liability does not need to be paid to currently deduct the cost of services. The liability must be established, the amount determined with reasonable accuracy, and the services must be provided.

Which of the Following Is Not Required for an Accrual