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Suzie, a calendar-year, cash method taxpayer, wants to claim a Year One deduction for the...

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Accounting

Suzie, a calendar-year, cash method taxpayer, wants to claim a Year One deduction for the following payments. Which of the following, if any, will be deductible in Year One?

  1. Her check was written and mailed on December 29, Year One, for payment of state personal income taxes.
  2. Her check was written and mailed on December 29, Year One, but postdated January 1, Year Two, for a charitable contribution.
  3. Her check was written and mailed December 29, Year One for otherwise deductible trade or business expenses on an account for which she is aware there are insufficient funds to honor the check.

a)1

b)2

c)3

d)1 and 3

e)2 and 3

f)1 and 2

g)None of the above.

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