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  3. Study Set
    Individual Taxation
  4. Exam
    Exam 7: Overview of Deductions and Losses
  5. Question
    According to the Cohan Rule, Taxpayers May Deduct Reasonable Estimates
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According to the Cohan Rule, Taxpayers May Deduct Reasonable Estimates

Question 4

Question 4

True/False

According to the Cohan rule, taxpayers may deduct reasonable estimates of expenses where they have no evidence, such as a receipt, to substantiate the actual amount.

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