The Cohan rule has to do with: 1) Tax accounting methods 2) Debts of another taxpayer 3) Substantiation of deductions O4) Cash method of accounting
The Cohan rule has to do with: 1) Tax accounting methods 2) Debts of another taxpayer 3) Substantiation of deductions O4) Cash method of accounting
Chapter6: Business Expenses
Section: Chapter Questions
Problem 9DQ
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Transcribed Image Text:The Cohan rule has to do with:
1) Tax accounting methods
2) Debts of another taxpayer
3) Substantiation of deductions
4) Cash method of accounting
Nonbusiness bad debts are deductible:
1) as short-term capital losses.
2) in full against business gross income.
3) only when they become wholly or partially worthless.
4) a and c are both correct.
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