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Business, 12.02.2020 21:49 peacelillady1030

Firm F, a calendar year taxpayer, owes a $380,000 long-term debt to an unrelated creditor. In December, it paid $22,800 to the creditor as interest for the 12-month period from the prior September 1 through August 31 of the following year.

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Firm F, a calendar year taxpayer, owes a $380,000 long-term debt to an unrelated creditor. In Decemb...
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