Maize Corporation (a calendar year taxpayer) was formed on April 1, 2016, and incurred organizational expenses of

Question:

Maize (a calendar year taxpayer) was formed on April 1, 2016, and incurred organizational expenses of $54,000. What is its maximum deduction for these expenses for 2016 (round to nearest dollar)?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...