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Business, 28.02.2020 00:34 lilmsnyah

A taxpayer incorrectly took a $5,000 deduction (e. g., incorrectly calculated depreciation) in 2019 and as a result, his taxable income was reduced by $5,000. The taxpayer discovered his error in 2020. The taxpayer must add $5,000 to his 2020 gross income in accordance with the tax benefit rule to correct for the 2019 error. a. trueb. false

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A taxpayer incorrectly took a $5,000 deduction (e. g., incorrectly calculated depreciation) in 2019...
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