federal taxation homework wk3


13. LO.2 Aubry, a cash basis and calendar year taxpayer, decides to reduce his taxable income for 2014 by buying $65,000 worth of supplies for his business on December 27, 2014.  The supplies will be used up in 2015.

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                a.            Can Aubry deduct the expenditure for 2014?


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                b.            Would your answer in part (a) change if Aubry bought the supplies because the seller was going out of business and offered a large discount on the price?  Explain.


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