Margaret is a yoga and Pilates instructor in Loveland, CO. She is considering opening an art studio in Boulder, CO and would incur $53,690 of investigation expenses. What are the tax consequences for Margaret in the following scenarios? Scenario A: Margaret opens the art studio on June 1 of the current year. (If answer is zero, please enter O, do not leave any fields blank.) Deduction in current year $.

Answer rating: 100% (QA)

According to the Internal Revenue Service IRS investigatory expenses incurred before a busi... View the full answer