Taylor, a Cash Basis Architect, Rents the Building in Which

question 136

Essay

Taylor, a cash basis architect, rents the building in which his office is located for $5,000 per month. He commenced his practice on February 1, 2018. In order to guarantee no rent increases during an 18-month period, he signed an 18- month lease and prepaid the $90,000 on February 1, 2018. How much can Taylor deduct as rent expense for 2018?

---

Definitions:

Genes

Units of heredity made up of DNA that carry information for the development, functioning, growth, and reproduction of organisms.

Spina Bifida

A congenital defect in the spine in which part of the spinal cord and its meninges are exposed through a gap in the backbone.

Structural Malformation

A defect or abnormality in the structure of an organ or part of the body, often present from birth.

Spinal Tissues

The various types of tissues, including muscles, nerves, and skeletal structures, that make up or are associated with the spine.