In January, Marco incurs $2,800 in expenses traveling to San Diego to investigate the feasibility of acquiring

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In January, Marco incurs $2,800 in expenses traveling to San Diego to investigate the feasibility of acquiring a new business. He acquires the business and on March 1 forms a new corporation, Marco Enterprises, Inc. and pays $6,000 for organization costs. In April he begins operations and incurs $4,600 of start-up expenses. How much is deductible in the first year for these expenses?
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Taxation For Decision Makers 2017

ISBN: 9781119330417

7th Edition

Authors: Shirley Dennis Escoffier, Karen Fortin

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