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What is the total amount of interest and insurance

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Reference no: EM132522391

Question - Anne is a self-employed electrician who reports her business income using the cash method over a calendar year. Anne pre-paid $6,491 of interest on a loan. The interest accrues evenly over 8 months starting June 1st of this year. In addition, on September 1st Anne also paid $7,798 for 18 months of professional liability insurance. What is the total amount of interest and insurance that Anne can deduct this year? Round your answer to the nearest dollar.

Reference no: EM132522391

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