Question
ABC Partnership incurred 52,650 of start-up cost during the year. ABC started business on August 30, 2021. Calculate the total deduction of start-up cost for
ABC Partnership incurred 52,650 of start-up cost during the year. ABC started business on August 30, 2021. Calculate the total deduction of start-up cost for ABC in 2021 under IRC 195. ABC wants to take the maximum deduction for the year.
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Fundamental Managerial Accounting Concepts
Authors: Thomas Edmonds, Christopher Edmonds, Bor Yi Tsay, Philip Old
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