On December 1, 2021, Carlos entered into a lease on a building for use in his business for $1,000 per month. Under the lease terms, Carlos pays 18 months’ rent ($18,000) in advance on December 1. How much can Carlos deduct for rent in 2021? a. $12,000 b. $18,000 c. $1,000 d. $13,000
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On December 1, 2021, Carlos entered into a lease on a building for use in his business for $1,000 pe...
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