acct401bd4 reply

acct401bd4 reply - resulting in the loss I read in the text...

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I did not know about the housekeeping expense could be deducted either until I took this class. I have not hired a housekeeper to help out with my children. Now I know I can deduct the expense so I will be more inclined to hire a housekeeper for my husband when I deploy this year to help out with the housekeeping and the children. I had a lot of problems with the Lee tax problem. I gave up on the tax software and did them by hand. I listed the common stock as a loss because it was probable that it would not be paid back
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Unformatted text preview: resulting in the loss. I read in the text that if it was probable or likely that a loss would occur then one can take it as a loss. In the event that it was paid, then one would have to adjust the previous tax returns and pay the difference in the current year. Not sure if I am right or not, but I went with what I thought would be the best result....
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This note was uploaded on 07/19/2011 for the course ACCT 401 taught by Professor Hawkens during the Spring '11 term at Lee.

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